Columnist Avinash Persaud delves into concerns voiced by bankers about the idea of levying a tax on financial transactions. Persaud argues that the warnings are scare tactics and that the tax would help. "A little sand in the wheel of finance will help to smash the mirages that lure our economies in the wrong direction to the detriment of all," he writes. "Taking this into account, a small transaction tax would be good for growth -- helping to boost investment and jobs."

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