From the TUC

First Minister of Wales backs Robin Hood Tax

22 Feb 2012, by in Politics

Wales’ First Minister, Carwyn Jones AM became the first government leader in the UK to announce his support for the Robin Hood Tax today which puts him in stark contrast to the hostility that the UK Government has shown towards the proposed tax to date. Carwyn Jones joins the growing ranks of business, political and civil society leaders across the world – from Bill Gates to the Archbishop of Canterbury – who are now backing this tiny tax on financial transactions.

It again shows that Wales has leadership which is standing up for ordinary working people, while the UK Government continues to plough ahead with unfair public spending cuts and lets the banking sector off the hook. In contrast strong social partnership between the Wales TUC, the business sector, public sector employers and the Welsh Government is saving jobs and services in the face of UK Government cuts.

First Minister of Wales Carwyn Jones AM said:

“Some parts of the financial services industry bear a share of responsibility for our current economic difficulties. I am not anti-banking and I am not negative towards the responsible financial services industry. On the contrary, finance is an important sector of our economy and I want to work with the sector to bring more finance jobs to Wales. But I think a Robin Hood Tax – a tax on financial transactions – set at the right level, is perfectly reasonable and offers an important practical way for the finance industry to demonstrate its contribution to society.

Social responsibility is well understood in Wales and I am confident that people across the country, and across the political spectrum, will endorse this tax.”

The Wales TUC welcomes Carwyn’s support for the Robin Hood tax at a time when the UK Government continues to plough ahead with unfair public spending cuts and let the banking sector off the hook for the financial crisis. It again shows that Wales has leadership which is standing up for ordinary working people while the UK Government continues to plough ahead with unfair public spending cuts and lets the banking sector off the hook. Signing the UK up would boost the Robin Hood Tax and raise around £35bn a year to combat poverty, invest in green jobs and help pay off the deficit.