Letter Asks G20 Leaders To Support Financial Transactions Tax To Help Developing Countries

“G20 leaders meeting in Seoul this week are being asked to commit to plans for a ‘Robin Hood Tax’ on financial transactions,” politics.co.uk reports. “A letter signed by 183 organisations from 42 countries, including members of the U.K.-based Robin Hood Tax campaign, is being sent to leaders to convince them to agree to taxing international financial transactions,” according to the news service (11/8).

The letter, signed by health, development, education and environmental NGOs and unions from 16 of the G20 countries, calls for world leaders to “make concrete progress towards the introduction of an internationally co-ordinated FTT [financial transaction tax],” according to a press release from the Robin Hood Tax campaign. “[S]uch an FTT 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,'” the press release notes (11/8).

“The G20 must now turn the global economic crisis into an opportunity to help the world’s poorest. A tiny tax on the banks could raise hundreds of billions needed for those around the world feeling the effects of a crisis they did the least to create,” said Jenny Ricks, head of campaigns at ActionAid, which is a member of the campaign, the U.K. Press Association reports. The article includes quotes from other FTT advocates (11/8).

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