Robin Hood backed by Sussex sceptic, David Cameron and other Euro leaders, Canadian campaigners and Unison
A bit of a round up of a big day of news from the Robin Hood Tax campaign. The really new bit of news is the report issued by the Institute of Development Studies, which is the most powerful evidence you can get – written by an avowed sceptic of financial transactions taxes, who has read the evidence and emerged persuaded that the Robin Hood Tax would work. But also, almost un-reported by the UK media, the Council of the European Union – attended for the first time by UK Prime Minister David Cameron – backed a global financial transactions tax. Meanwhile, campaigners from Bournemouth (Unison conference delegates) to Toronto (At the Table activists) called on G20 leaders here and in Canada “to commit to the Robin Hood Tax, a 0.05 per cent Financial Transaction Tax on speculative trading that could raise billions each year for fighting climate change and poverty both at home and abroad.”
IDS economist and researcher Dr. Neil McCulloch is the co-author of The Tobin Tax: A Review of the Evidence. He says:
“It is obvious that securities transaction taxes [on equity, bonds and related securities] are feasible – they have been successfully implemented in several countries already, including the UK, [while a Tobin Tax on foreign exchange markets] could also be successfully implemented.”
The Robin Hood Tax campaign are clearly pretty chipper about this.