In response to FTT progress at European Finance Ministers' meeting

Tuesday, December 8, 2015

For immediate release:

European Finance Ministers met today and announced new agreements had been reached on the proposed Financial Transaction Tax. In response, David Hillman, spokesperson for the Robin Hood Tax campaign, said:

"Participating countries have today taken an important step towards a popular and proven tax that will raise billions from the financial sector – that is something the public can celebrate. 

"Yet as the Paris climate conference reminds us, there is a desperate need for leaders to commit a proportion of the revenue to tackling climate change and poverty internationally. The tax has such huge popular support precisely because it can raise money to address both domestic and international issues. It will not be hailed as a success unless that happens. 

"It's outrageous that George Osborne is trying to derail a measure that would finally ensure banks pay their fair share for the damage they've caused. 

"The Chancellor has his priorities in a twist and is protecting his friends in the City against the wider interests of Britain."

For more information contact:

Simon Chouffot: 07725 879 580 simon@robinhoodtax.org.uk

Notes to editors: 

An FTT FAQ is attached here

George Osborne stated he would not find the FTT proposal acceptable if it taxed international counter-parties such as the UK, when that is precisely how the UK's own Stamp Duty on shares works - see attached FAQ document.

A 'million strong' petition was recently collected in support of the Robin Hood Tax: http://www.robinhoodtax.org/millionstrong

The Robin Hood Tax campaign is a coalition of 120 UK organisations including Barnardo’s, Comic Relief, Oxfam, Friends of the Earth, NASUWT and UNISON: www.robinhoodtax.org.uk

The campaign has more than 250,000 supporters and is endorsed by over 1,000 economists

The campaign is calling for financial transaction taxes to help tackle poverty and climate change, at home and abroad

-- 

Simon Chouffot

Media & Policy

The Robin Hood Tax Campaign

+44 (0) 7725 879 580

simon@robinhoodtax.org