The Robin Hood Tax
Around the world, momentum is building behind a tiny tax on bankers that could generate billions of dollars to help with problems at home and overseas.
It has been given different names in different countries – the ‘Robin Hood’ tax in the US and United Kingdom, ‘Steuer gegen Armut’ or ‘tax against poverty’ in Germany, the "Robin des Bois" in Canada and France, Zerozerocinque in Italy and "La Tasa Robin Hood" in Spain, but we are all talking about the same thing.
A financial transaction tax is a tiny tax on the transactions of big banks that could deliver billions of dollars to help ordinary people and fight poverty around the world.
Take action now
If you haven’t done so already, sign the petition and join the movement calling for change:
Who’s calling for this tiny tax?
The economic crisis has left the world trillions of pounds poorer and left people fed up with bankers’ wasteful ways. People around the world are suffering from the impacts of a crisis that they did nothing to cause. Political figures and influential people have already come out in support of a tax on the millions of transactions that take place every day between financial institutions.
- We are charities, green groups, trade unions, celebrities, religious leaders and politicians.
- We are world leaders – President Hollande of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.
- We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet, Bill Gates.
- We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 1,000 other economists from across the world.
We are part of a movement of campaigns in more than 25 countries around the world representing over 220 million people.
What is the financial transaction tax?
In a nutshell, the big idea behind the Financial Transaction Tax is to generate billions – hopefully even hundreds of billions of dollars. That money will fight poverty around the world. It will tackle climate change. And it will come from fairer taxation of the financial sector.
The 2008 economic crash left a $65 billion dollar hole in the budgets of the world’s 56 poorest countries. Countries that are now cutting expenditure and removing subsidies for essentials like food, fuel and electricity. If applied globally a tiny tax of 0.05% on the financial sector could generate 400 billion dollars. That’s enough to protect schools and hospitals. Enough to build new lives around the world – and to deal with the new climate challenges we’re all facing.
It’s time to get on board the rushing train of this campaign!