Support urged for Robin Hood Tax
Campaigners have urged the Government to use next week's Budget to support moves aimed at raising money through taxes to fight poverty and climate change.The so-called Robin Hood Tax campaign said the Government should not wait for international agreement, but introduce a 0.005% stamp duty on sterling foreign exchange transactions.
The campaign, made up of almost 100 unions, anti-poverty groups, environmentalists and faith bodies, said moves by the UK would encourage other countries to take action. TUC general secretary Brendan Barber said: "This is an idea whose time has come. Technology is now at the stage where this is a cheap and easy tax to collect."
He added: "After the damage that bank recklessness has done to ordinary people's lives throughout the world it is only right that we ask them to help clear up the mess they have made and to play their part in making the world a better place."
Oxfam chief executive Barbara Stocking said: "It's quite simple. We have a golden opportunity to help people across the globe who are suffering from the effects of the financial crisis and climate change. And we have the chance to make sure those living in poverty here in the UK have a better future. The Robin Hood Tax won't cost the taxpayer a penny and we should grab it with both hands."
Claire Melamed, head of policy at ActionAid, said: "A decision by Alastair Darling to introduce a tiny tax on sterling in this budget would be both fair and popular. It would raise billions now and could be the key that unlocks a system of global financial transaction taxes which would raise even more desperately needed money to fight poverty at home and abroad."
The campaign, aimed at introducing a tax on financial transactions, has been attracting support from campaigners and politicians across the world.
Claire Melamed, head of policy at ActionAid, said: "A decision by Alastair Darling to introduce a tiny tax on sterling in this budget would be both fair and popular. It would raise billions now and could be the key that unlocks a system of global financial transaction taxes which would raise even more desperately needed money to fight poverty at home and abroad."
The campaign, aimed at introducing a tax on financial transactions, has been attracting support from campaigners and politicians across the world.
© 2012 Press Association