G20 Leaders Urged To Back 'Robin Hood' Tax

[The Patriot]

G20 Leaders Urged To Back 'Robin Hood' Tax

11-08-2010 05:21 AM

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Mon, 2010-11-08 13:19


G20 Leaders Urged To Back 'Robin Hood' Tax


G20 Leaders Urged To Back 'Robin Hood' Tax

A group of 183 organisations from 42 countries has issued a plea to world leaders to impose a tax on financial transactions to help meet the costs of the economic crisis. Skip related content
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Members include Britain's Robin Hood Tax campaign, supported by the TUC, Friends of the Earth and ActionAid.

Their plea comes ahead of the summit of leaders of G20 economic powers in the South Korean capital Seoul on November 11-12.

The issue of measures needed to stabilise the world economy and boost the global recovery are set to be discussed.

The plea comes in a letter addressed to G20 leaders including Prime Minister David Cameron and US President Barack Obama.

It is signed by development, health, education and environmental charities and unions from 16 of the G20 countries.

They argue that a financial tax would help meet the costs "of the global financial and economic crisis, including reducing the unacceptably high rate of job loss, and achieve key development, health, education and climate change objectives in developing countries".

TUC general secretary Brendan Barber said: "Governments around the world are embarking on a sweeping programme of austerity measures that will lead to huge job losses and cuts in services that the most vulnerable in society rely upon.

"At the same time the banks are back to business as usual with multi-million pound salaries being paid to the chief executives of bailed-out banks and billions handed out in bonuses."

He added: "A Robin Hood Tax would mean the world's banks paying to reduce deficits they helped cause and would remove the need for such swingeing cuts in public spending."

ActionAid said the tax would raise billions of pounds for the world's poorest hit by the global downturn.


Source: Sky News







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