France

The spirit of Robin Hood is alive and kicking in France.  The campaign launched in February 2011. Trade Unions, international and environmental organizations are all making noise about a tax on the banks.

The men and women behind the masks are asking for the introduction of a Financial Transaction Tax that would raise billions for international aid and climate finance.

The good news is that the French President, Francois Hollande supports an FTT to raise money for international development and climate change. The even better news is that France implemented an FTT on the 1st August 2012. Following France's lead, other European countries will also be implementing a Robin Hood Tax in 2013, through a method of 'Enhanced Cooperation'.

In October 2015, France became the first country in the world to commit to spend 50% of its financial transactions tax (FTT) on international development and helping the world's poorest people fight climate change. The following winter, the French Parliament voted to increase their FTT from 0.2% to 0.3% and by expanding its scope. They then agreed to spend 75% of the revenue raised on helping the world's poorest people - proof that it can be done!

Vive Robin des Bois!

 

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