From the TUC

Hedge fund boss backs Robin Hood

28 Nov 2011, by in International

Progressive of the week award (although the rest of the week is still to come) must surely be going to top hedge fund boss David Harding, quoted in the Financial Times (£) today (Monday) backing the European Union draft directive on a financial transactions tax and expressing his astonishment at how far the UK government has gone in lobbying on behalf of the financial industry. His hedge fund, Winton Capital, is worth $26bn, and is one of the largest in London. He says:

“I would be in favour of a low [financial transaction tax], if part of it was used to finance more supranational regulation of markets. …I am surprised to the degree to which the Treasury and the FSA [Financial Services Authority] act as lobbying organisations for the financial services industry.”