Related Stories
Robin Hood tax
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)
Posted: March 25th, 2010
http://www.guardian.co.uk/commentisfree/2010/mar/13/robin-ho...
Economists warn that Britain is wobbling on a tightrope over a second recession where spending cuts would precipitate more unemployment and risk sinking the economy into a downward spiral. So far Labour has failed to find the words to express public outrage at the financiers' billowing wealth while the Treasury is drained. Only weeks since launching, the campaign for a Robin Hood tax on all financial transactions has gathered extraordinary support. It hasn't been hard, so profound is the untapped public anger at the bankers. This week the European parliament voted for it overwhelmingly 536 to 80 supported by the social democrats and the majority conservative EPP grouping: opponents were the ECP rump rightwingers the Tories belong to. Backed here by some 100 organisations from Oxfam to the Salvation Army, rarely has a campaign gathered such momentum in so short a time: 140,000 have joined and more gather by the day. Campaigners want a sterling transaction tax to come in at once. Imposing just 0.005% on every sterling deal is within Britain's sole control, raising 4bn. If the EU agrees a wider financial transactions tax, it would bring Britain another 4bn one estimate is 100bn across Europe, to be used at home, in foreign aid and on climate change.
Note: See http://robinhoodtax.org.uk to support this rapidly growing movement which may make a big difference.
Related Stories
Latest News
Key News Articles from Years Past
