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Could Tobin tax proposal affect finance graduate jobs?

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Prime Minister Gordon Brown has been making behind-the-scenes attempts to push a Tobin tax on financial transactions, although the reaction in the City has been lukewarm.

The tax would be applied to currency transactions and has the potential to raise billions of pounds which could be directed to help the developing world.

In the current jobs climate, having a professional qualification could set candidates apart from the competition, although getting the best possible careers advice is also crucial.

Levying a Tobin tax at 0.005 per cent could raise more than £30 billion and £45 billion, the Guardian reported.

A potential impact of a Tobin tax could be to reduce the volume of financial transactions, which may in turn have a negative impact on finance graduate schemes.

Alternative proposals to rein in banks are also on the table, with the Daily Telegraph reporting that banks could be made to pay insurance fees related to the level of risk they operate.

Last month a report by the Centre for Economics and Business Research predicted that bonuses in finance and banking would continue to rise.ADNFCR-2605-ID-19455245-ADNFCR

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