Calls for new tax system to tackle alarming poverty and social exclusion

Majorca.—Spain’s opposition socialist party  yesterday urged the government to implement as soon as possible the financial   Tobin tax, a  levy created by U.S economist James  Tobin in the early 70’s, to reduce the social differences in the country.
The appeal comes after reports from Eurostat revealed this week, confirming that one out of every three citizens in Spain now live on the poverty line and in risk of social exclusion.