UK chief regulator would consider Tobin tax

Adair Turner

Adair Turner, the chairman of the Financial Services Authority, has revealed his intention to stamp out excessive finance industry pay through regulation and taxes.

"If you want to stop excessive pay in a swollen financial sector you have to reduce the size of that sector or apply special taxes to its pre-remuneration profit...Higher capital requirements against trading activities will be our most powerful tool to eliminate excessive activity and profits," Turner told Prospect, a magazine. "And

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