Robin Hood spreads across the UK
The Robin Hood Tax is backed by 11 member states of the European Union, but the UK government is trying to have it ruled illegal by the European Court of Justice. Do they speak for the British people? Councils across the country are saying no.
Over the last six months, Councils have been responding to the latest phase of the Robin Hood Tax campaign, adopting resolutions backing the tax. The resolutions emphasise the benefits to the local area of a British financial transactions tax (FTT): a boost to Council revenue through the extra billions pouring into the Exchequer, but also, a rebalancing of the UK economy so that the City of London ceases to suck money and skilled workers away from the rest of the UK.
The most recent recruits to the campaign – this week – were Bradford and Cardiff, but there are 29 other Councils that have signed up, and support for the resolutions is coming from all the mainstream parties except the Conservatives. Labour, Green, SNP and Plaid Cymru Councillors have backed the resolutions. Even Liberal Democrat-led Portsmouth Council has joined the campaign, suggesting that George Osborne really is isolated in his craven defence of his pals in the City of London’s boardrooms.
Torfaen Council in Wales was the first Council to back the campaign, and the first twenty-five are listed here, backed more recently by Bridgend, Chorley, Derbyshire and Leicester. These Councils cover just over 7 million people, and the number is growing.