Editing Tobin tax (section)

====G20 nations====
The first nation in the [[G20]] group  to formally accept the Tobin tax was Canada.<ref>The G20 is made up of the [[G7]] plus others. The G20 was established in September, 1999, and Canada was part of the original G7. There was no Canadian election between the March 23, 1999 Canadian adoption of the Tobin tax resolution, and the September 1999 formation of the G20, so the government remained the same.</ref> On March 23, 1999, the [[House of Commons of Canada]] passed a resolution directing the government to "enact a tax on financial transactions in concert with the international community."<ref name="Round">{{cite web|url=http://www.newint.org/issue320/tobin.htm|title=Time for Tobin!|author=Robin Round (representative of [[Halifax Initiative]])|date=January–February 2000|publisher=[[New Internationalist]]|archive-url=https://web.archive.org/web/20091206100227/http://www.newint.org/issue320/tobin.htm|archive-date=2009-12-06|url-status=dead|access-date=2009-12-17}}</ref> However,  ten years later, in November 2009, at the G20 finance ministers summit in Scotland, the representatives of the [[Minority governments in Canada|minority government]] of Canada spoke publicly on the world stage in opposition to that [[House of Commons of Canada]] resolution.<ref name="Lukewarm">{{cite news |url=http://news.bbc.co.uk/2/hi/uk_news/8348653.stm |title=Lukewarm reaction to UK tax plan |author=BBC |date=November 7, 2009 |publisher=BBC |access-date=2009-12-17 |author-link=BBC |archive-url=https://web.archive.org/web/20091110003239/http://news.bbc.co.uk/2/hi/uk_news/8348653.stm |archive-date=November 10, 2009 |url-status=live }}</ref>

In September 2009, French president [[Nicolas Sarkozy]] brought up the issue of a Tobin tax once again, suggesting it be adopted by the G20.<ref>{{cite news | url=http://news.bbc.co.uk/2/hi/business/8264774.stm | work=BBC News | title=Sarkozy to press for 'Tobin Tax' | date=19 September 2009 | access-date=20 September 2009 | archive-url=https://web.archive.org/web/20090920100903/http://news.bbc.co.uk/2/hi/business/8264774.stm | archive-date=20 September 2009 | url-status=live }}</ref>

On November 7, 2009, prime minister Gordon Brown said that G-20 should consider a tax on speculation, although did not specify that it should be on currency trading alone. The BBC reported that there was a negative response to the plan among the G20.<ref name="Lukewarm" />

By December 11, 2009, [[European Union]] leaders expressed broad support for a Tobin tax in a communiqué sent to the [[International Monetary Fund]].<ref name="EUcall" />

For supporters of a Tobin tax, there is a wide range of opinion on who should administer a global Tobin tax and what the revenue should be used for. There are some who think that it should take the form of an insurance: In early November 2009, at the G20 finance ministers summit in Scotland, the British Prime Minister "[[Gordon Brown|Mr. Brown]] and [[Nicolas Sarkozy]], France's president, suggested that revenues from the Tobin tax could be devoted to the world's fight against climate change, especially in developing countries. They suggested that funding could come from "a global financial transactions tax."  However British officials later argued the main point of a financial transactions tax would be provide insurance for the global taxpayer against a future banking crisis."<ref name="EUcall" /><ref name="Lukewarm" />