FINANCIAL TRANSACTION TAX (No. 2)

That this House recognises blame forthe current world recession and financial crisis quite rightly has been laid at the doors of banks, financial institutions and governments because of their failures to properly monitor, control and regulate the financial sectors; believes the introductionof a financial transaction tax designed to raise revenue to be spent specifically on good causes will help fill the gaps of provision created directly by the economic downturn and go part of the way towards redressing the economic difficulties felt within these communities especially amongstthose in the voluntary sector; and calls on the Government to support efforts tointroduce such a tax amongst those nations participating in the coalition of G20 countries when their heads of state and governments meet in Cannes in November.