Jamra primary scholl for children affected by HIV/AIDS, drugs or poverty, Senegal (c) Nell Freeman/Alliance Participants in the Photovioce project, Ecuador © Marcela Nievas for the Alliance
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Robin Hood Tax campaign launches

10
FEB
2010

Robin Hood tax targets financial transactions

A tiny tax on bankers that would make a big difference here and abroad

L0.05E CHANGE

The campaign for a tiny tax on bankers formally kicked off at dawn on 10 February with the projection of an image of masked campaigners calling for the World's Greatest Bank Job onto the Bank of England in London to call on the banks to support a Robin Hood Tax.

The future projection is that a mere 0.05% on financial transactions could raise an estimated $700 billion per year to raise funds for the most disadvantaged at home and abroad.

This is a significant amount of money at a time when we are seeing slow progress on meeting the commitment to universal access to HIV treatment and care as well as slow progress on Millennium Development Goals 4 and 5, to reduce child mortality and improve maternal health.

ROBIN HOOD TAX FOR HEALTH

Last year saw the Alliance at the forefront of pushing for a levy on currency transactions to raise much-needed funds for HIV and health.

We have helped to mobilise support for a broader Financial Transaction Tax (FTT) or ‘Bankers Tax’, and we’ve been working with other leading national and international organisations to support today’s launch of the Robin Hood Campaign.

Find out more about why we need the Bankers Tax for HIV and health.

HALF HERE, HALF ABROAD

The Alliance supports the idea that 50% of this new resource could be used for domestic use and 50% for international needs including tackling HIV/AIDS and filling the funding gap for the health Millennium Development Goals.

In a UK poll conducted by YouGov for Oxfam over half (53%) respondents were in favour of the tax, and a poll conducted in the United States also showed over half of respondents supported the idea.

The Alliance will continue to work towards mobilising support for the Robin Hood Tax amongst our partners in the UK, Europe, the US and with our many linking organisations and partners.

GET IN ON THE WORLD’S GREATEST BANK JOB

More than 350 economists including Professor Jeff Sachs, special adviser to UN Secretary General Ban Ki-Moon, and world leaders such as Angela Merkel, Nicolas Sarkosy and Gordon Brown have indicated support for financial transaction taxes. Financiers who support a FTT include Lord Turner of the FSA, George Soros, and Warren Buffet.
Now it’s time to show your support too.

  • Watch the campaign video. Directed by Richard Curtis, the innovator behind Comic Relief and the Make Poverty History campaign. The film has been viewed 330,000 times on YouTube alone, and will soon be screened in selected cinemas in the UK.
  • Join the bands of merry men and women on Facebook. The campaign now has almost 120,000 fans on Facebook with more than 3,000 joining every day. This is almost four times more than the combined total of the three main UK political parties and almost twice as many as the US Democrats.
  • Sign up to the campaign and get the latest updates in our campaign area. 61,000 people have voted in favour, at a margin of 10:1 in favour.
  • Get involved at the Robin Hood Tax website. Don a green mask, or send a letter to your local MP.

80 MPs attended the parliamentary launch of the campaign, and over 400 MPs have been responding to letters and emails – lets keep the momentum up.

GLOBAL SUPPORT

The Alliance has been working with a wide range of organisations and networks including Stamp Out Poverty, Oxfam, Comic Relief, TUC, Save the Children, CAFOD, Results UK, and a wide range of organisations in Europe, the US and across the G20. More than 80 domestic charities, aid agencies, green groups, faith organisations and unions now officially support the Robin Hood Tax Campaign

As a member of Action for Global Health, the Alliance is also supporting campaign actions across Europe. 

    Millions of people die each year from preventable diseases . . . the Bankers Tax can provide the cure