TUAC NEWS
Time for a Robin Hood Tax activists tell Europe: global day of action in 35 countries
22/06/2011
Trade unions and NGO allies in over 35 countries united on 22nd June in calling on European heads of state to back a Financial Transaction Tax (FTT) that could raise hundreds of billions to tackle poverty and climate change.
The huge diversity of events, bringing together thousands of organisations, are happening across five continents. From the Great Britain to Ghana, from New Zealand to Nepal this demonstrates the global support for an FTT, popularly known in many countries as a 'Robin Hood Tax'. The European Trade Union Confederation (ETUC) organized a major european demonstration in Luxemburg.
The reckless behaviour of the financial sector has a global impact – the economic crisis triggered by financial meltdown has pushed tens of millions of people around the world into unemployment and poverty and jeopardised commitments to tackling climate change.
The 'global day of action' is designed to put pressure on European leaders meeting in Brussels on 23/24 June. Global political momentum for a FTT has been building - many countries including France, Germany, Austria, Luxembourg, Belgium, Spain, Portugal and Greece are in support, as well as the President of the European Commission, Barroso. In March MEPs voted for a FTT (527 for, 127 against) and last week the French parliament voted unanimously in favour.
It comes as Europe negotiates another bailout for Greece – a bailout that will once again see taxpayers’ money go to cover banks’ bad debts.
Campaigners are calling for Europe to press ahead with a Robin Hood Tax before the G20 summit in November, chaired by France, where President Sarkozy has said he will attempt to create a coalition of countries willing to introduce an FTT.
John Evans, general secretary of TUAC said: “ With the scale of austerity policies now being imposed on European workers and beyond it is unacceptable that governments are failing to move ahead on taxing the financial sector through a financial transactions tax that could raise very substantial sums.”
David Hillman, a spokesperson from the Robin Hood Tax campaign in the UK, said: “ This unprecedented action shows that people around the world want banks and hedge funds to pay their fair share to society. A tax on financial transactions is the best way to make the financial sector play a more productive role in society. People are behind it, Parliamentarians are behind it – a Robin Hood Tax would surely be the most popular tax in history. It's time European leaders turned this opportunity into reality.”
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