Bachelet expresses support for financial transaction tax

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Former Chilean President Michelle Bachelet has expressed support at France's push for a tax on financial transactions to fund development projects.

"The cascade of popular uprisings in North Africa and in the Middle East ... underlines a legitimate desire for economic opportunities, social justice and social protection," she said in a statement published Monday.

"The implementation of social protection floors can respond in many countries to calls for social cohesion, political stability and resilient economic growth," she said, calling on the international community to find innovative ways to finance social policies.

Bachelet, who heads a consultative group on social protection at the International Labour Organization is in France this week, to meet several French ministers, including employment minister Xavier Bertrand.

"Personally, I do like the possibility of putting levies on financial transactions," she said ahead of her visit to France, describing the idea mooted by French president Nicolas Sarkozy as "very interesting."

"We should think about that seriously," she added.

Sarkozy, who is heading the rotating presidencies of the G8 and G20, has been pushing for such a tax during several summits, an idea which has been rejected by some countries.

© 2011 AFP

1 Comment To This Article

  • jack loach posted:

    on 23rd July 2011, 22:59:40 - Reply

    Update .July 23rd.. - 2011.

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