Peter Bakvis, who runs the global unions office in Washington DC, was at the annual meetings of the International Financial Institutions (IMF and World Bank) in Tokyo last weekend, and reports here on developments in the global campaign for a Robin Hood Tax. As EU governments (11 so far) commit to introducing a Financial Transactions Tax (FTT), global economic institutions like the IMF and the OECD are following their lead. Will the governments still refusing to implement an FTT follow their advice?
Some 200 participants met in Tokyo on 11 October, one day prior to the IFIs’ annual meetings (12-14 October), for an “International Symposium on Innovative Financing Mechanisms and Financial Transactions Tax”. The meeting was co-sponsored by the Leading Group on Innovative Financing for Development and a Japanese CSO coalition, and was attended by ministers attending the IFI meetings, parliamentarians and representatives of several civil society organisations that advocate for the FTT, including trade unions. The International Trade Union Confederation (ITUC) was among the organizations with a speaking role. Public Services International, whose Japanese affiliates were among the organizers of the symposium, provided a report.