The Robin Hood Tax campaign started as an idea. People loved it. We became a movement. And we're still growing.
What is a Robin Hood Tax?
In a nutshell, the big idea behind the Robin Hood Tax, also known as a Financial Transaction Tax (FTT, 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, on average, 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.
Who’s calling for this tiny tax?
The economic crisis has left the world trillions of dollars 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 and Chancellor Merkel of Germany, 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 can I do?
Since the Robin Hood Tax campaign was launched in 2009, it has collected over a million signatures. Campaign members have presented the million strong petition to leaders and finance ministers across Europe. Find out more on how you can get involved and help us make this great idea a reality.