The central banks have been pumping unprecedented amounts of liquidity into the markets. Yet it has become clear that monetary policy alone is not sufficient to lift economies out of their lethargy and to get the public finances back on a healthy track. As for sound public finances, limits on expenditure are only one side of the coin: the flip side - indeed the upside - is a more effective collection of taxes. Hence all major tax jurisdictions are taking an increasingly aggressive stance against tax evasion and avoidance. What are the prospects of such enforcement measures? How about completely new tax laws such as the financial transactions tax and the air ticket tax?