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International Financial Transactions (Tax)

We do not want to spend the money before we have it. None the less, it is important to define some things relatively early. We are very much still at the beginning, but we need to settle soon those things that could command broad public support both globally—the sort of things mentioned by my hon. Friend—and internally, so that a number of key issues can be seen to develop. I am probably well known for talking about early intervention, and the need to help babies, children and young people to develop their social and emotional potential. That will take a generation to develop. If the money is tied to a long-term initiative such as an international financial transactions tax, over decades we will see the development of something positive. In the global sphere, deforestation would fall very much into that category.