The Robin Hood Tax is a tiny tax on banks, hedge funds and other finance institutions that would raise billions to tackle poverty and climate change, at home and abroad.
It can start as low as 0.005 per cent – and average 0.05 per cent . But when levied on the billions of pounds sloshing round the global finance system every day through transactions such as foreign exchange, derivatives trading and share deals, it can raise hundreds of billions of pounds every year.
And while international agreement is best, it can start right now, right here in the UK.
That can help stop cuts in crucial public services in the UK, and aid the fight against global poverty and climate change.
Why now?
Because of the financial crisis, frontline services at home – like the NHS and our schools – are under fire.
At the same time, poor communities and the environment are being hit hard – as aid and green budgets are slashed by rich countries.
So it’s time for the people who caused this mess to pay to clean it up.
Who’s in?
Gordon Brown, Angela Merkel (the German Chancellor) and Nicolas Sarkozy (the French President) have all spoken out in support of a tax on financial transactions.
Plenty of business bigwigs are on-board too. Lord Turner (from the Financial Services Authority), George Soros (the philanthropist) and Warren Buffet (US businessman extraordinaire) have all backed transaction taxes. And then there are the hundreds of economists who have backed the idea, too.
This isn’t some crazy pipedream. It’s a simple and brilliant idea which transcends party politics and which – with your support – can become a reality.
Should the Robin Hood tax start, like charity, at home?
Click on link to go to the Robin Hood website.
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