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183 organisations push for ‘Robin Hood’ tax ahead of G20

Monday 8 November 2010 - by Nicola York

G20 leaders are coming under pressure to introduce a global financial transaction tax on banks ahead of the G20 meeting in Seoul this week.

The 183 organisations from 42 countries, that have signed a letter to the G20 leaders, consist of development, health, education, environmental NGOs and unions from 16 of the G20 countries.

These organisations represent more than 200 million people from across the globe.

The letter says that an FTT would help meet the costs "of the global financial and economic crisis, including reducing the unacceptably high rate of job loss, and achieve key development, health, education and climate change objectives in developing countries".

Friends of the Earth's head of international climate Asad Rehman says: "Recent floods in Pakistan and droughts in Africa show the devastating reality of climate change on people in developing countries. A Robin Hood Tax on financial transactions is a crucial measure to help generate the minimum $200bn needed annually to begin tackling the problem."




ActionAid head of campaigns Jenny Ricks says: "The G20 must now turn the global economic crisis into an opportunity to help the world's poorest. A tiny tax on the banks could raise hundreds of billions needed for those around the world feeling the effects of a crisis they did the least to create."


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