Global trade tax and island thinking

Global trade tax and island thinking

Wild Card's progress: basic

This Wild Card came from: 
European Commission Framework Programme for RTD

The theme/scheme related to this Wild Card: 
Theme 6 - Environment (including Climate Change)

The sub-theme that best relates to this Wild Card: 
Forecasting methods and assessment tools for sustainable development taking into account differing scales of observation

Likelihood timeframe and scenario features : 

Wild Card's description 
The long awaited Tobin tax on financial transactions is implemented in major economies. But, this provides a major boost to island tax havens, which is tacitly supported by larger financial markets in collusion with transnational companies (TNCs). The islands are now the nominal locations for all international banking and trading. The City of London etc are reduced to back-office functions.