Today, Robert Peston, BBC’s business editor commented today in a piece entitled, “Can Banks Save the Planet”, that: “If the current entente between G Brown and N Sarkozy ruled the world, we would be well on the way to a global tax on financial transactions.”

He adds that “In a recent joint statement, the unlikely double act said that the “revenues from a global financial transactions tax” – perhaps better known as a Tobin tax – could help defray the costs of transition to a low-carbon economy, especially for developing countries.”

Whether it is the banks’ role to save the planet or even their responsibility is one matter, the other is how it could possibly be administered. Peston goes on to say that “If such transactions could be identified with confidence, then taxing them might be harmless to the prospects for sustainable economic growth or even a good thing.”

He concludes: “What would be required is solid data…Unless and until such data can be collected, the debate on whether a transaction tax could or should be implemented is probably going nowhere.”

The widespread implementation of OSMO® for automated and transparent transactional data extraction and transfer at source would effectively solve the levy information issue in one fell swoop. Transparency and taxation in perfect union.  Messrs Brown and Sarkozy, we await your conference call with pleasure,