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 can help meet MDGs

21
SEP
2010

Aids Alliance

World leaders are meeting this week at the Millennium Development Goal (MDG) Summit (20-22 September) to review progress on the MDGs, which currently are perilously off target.

A Robin Hood Tax, alongside commitments upheld by G8 countries, could get the MDGs back on track and make ambitious goals, such as universal access to HIV treatment, a reality.

The global financial crisis has hit the poorest countries hardest, increasing their budget deficits and making it harder to deliver essential services, such as healthcare and education.

At present there is widespread concern that targets will not be met because of the financial crisis and G8 countries are undergoing significant spending cuts.

Time for Robin Hood Tax

There is a global consensus that the financial sector needs to play its part in cleaning up the financial mess they have caused – this includes addressing the impact on the global south.

Robin Hood Tax campaigns have mobilised in many countries – France, Germany, the UK, Canada, and Australia – calling for the introduction of levies to raise additional resources from the financial sector.

IMF recommends

The International Monetary Fund (IMF) issued a report at the G20 in June 2010 that confirms the financial sector remains under-taxed and recommends the introduction of at least two new levies.

The levies recommended by the IMF could raise an additional $100 billion per year. Part of this could be put to help achieve the MDGs.

Taking the health related MDGs, if goals are reached it would mean that by 2015:

  • The spread of HIV will have halted, and begun to decline
  • There is universal access to HIV-related services and reproductive health
  • Maternal deaths will have reduced by three quarters
  • Child deaths will have reduced by two thirds

All of these goals are co-dependent on each other –and all have taken a knock from the financial crisis. It’s time for those who created the crisis to give back.

Find out more about the Robin Hood Tax.