The International Politics Of The Robin Hood Tax

April 7, 2011 § 1 Comment

Before I started working on this campaign, I hadn’t realised how much potential there was for a Robin Hood tax to be introduced this year. Although we know Osborne is not a fan – a tax is looking increasingly likely in the Eurozone countries, with Germany and France leading the charge. There are now seventeen countries in the zone, meaning a Robin Hood tax would raise tens of billions each year to go towards development and climate financing, as well as public services at home. As this would be introduced, other countries that already have some sort of financial transaction tax – like Brazil and South Africa – would then be likely to join them.

In other developments, President Sarkozy of France has put Bill Gates in charge of preparing a report and recommendations on innovative financing mechanisms on behalf of the G20, whose voices will be crucial on pressuring Western governments to make sure money from the tax goes to developing governments. Bill Gates is yet to be convinced, and the US is opposed to implementing the tax themselves – though not actively blocking others from doing so. Other G20 countries like Korea, Australia and India have already got a Stamp Duty (like the UK), and so will hopefully play a progressive role at the table.

The G20 meeting is in November this year, so over the next couple of months we’ll see an increased pressure building – starting this week with our road tour!

§ One Response to The International Politics Of The Robin Hood Tax

  • owais says:

    i think at this moment of time taxing the people who r already under financial stress will not be good rather big corporation should be charged more from their profits to fill the gaps they should be required to act social now this time is to be like that..what should our people common man be given is relief not more burden what r they being elected for if every thing has to be done by us !!!

    nothing to worry so far we can smile. love u

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