The financial crisis and the recession have left a massive hole in the UK’s public finances. Jobs and public services are at risk in the UK while many other developed and developing countries face a similar struggle.
The Financial Transaction Tax (FTT), nicknamed the Robin Hood Tax, will fund the fight against poverty in the UK and overseas. Unite thinks that banks, hedge funds and the rest of the financial sector should pay their fair share to clear up the mess they helped create. The tax of about 0.05% on transactions like stocks, bonds, foreign currency and derivatives could raise some £20 billion annually for the UK.
The income generated will be enough to stop massive cuts across the public sector. Enough to build new lives around the world – and to deal with the new climate challenges our world is facing. The systems are in place to collect it. It won’t affect ordinary members of the public, their bank accounts or their savings.
The Robin Hood Tax is justice!
The banks can afford it!