One-off wealth tax 'would solve crisis'

The need for a one-off wealth tax on the richest 10% has never been greater. That's the view of Greg Philo of the Glasgow University Media Group, who has long pushed the idea. But where once the idea was regarded as wildly radical, now support is gathering behind it – with Italy's largest bank also pushing the idea. Support for the idea is growing as it becomes clear that bailouts are aimed not at real economies but the banks.