Tasmanian Senator Jacqui Lambie proposes $1.4 billion tax on high frequency share trading

INDEPENDENT Tasmanian Senator Jacqui Lambie is proposing a $1.4 billion tax on businesses involved in high frequency share trading.

The financial transactions tax would be levied on businesses in Australia that use supercomputers and complex IT software for share and stock trading.

Senator Lambie said the rate of the tax would be tied to aged pensions and veteran’s pensions.