27 July 2011


The past months have seen many countries formally endorse and promote financial transaction taxes, (sometimes termed the 'Robin Hood' tax). In an important development José Manuel Barroso, the President of the European Commission, recently announced the introduction of legislation to the European Union for the implementation of financial transaction taxes. The legislation is expected after the European summer and after the Commission tables its feasibility study on the tax in the coming weeks. Barroso has stated that it is appropriate to introduce it at the European level, and then follow it up at the G20.

In June 2011, the French and German Parliaments voted in favour of introducing legislation for financial transaction taxes at the EU level and the EuroZone.

On 15 June, the Brazilian parliament adopted a resolution calling for the Brazilian Government to support a financial transaction tax.

At the UN climate negotiating session in Bonn in early June, the Bolivian government call for an international financial transaction tax to cover the costs of the impacts of climate change, protect forests and finance the clean low carbon future for developing countries.

The Belgium Senate voted in favour of a resolution to support a financial transaction tax at the European level in lieu of a global agreement. The funds raised are to go to development and climate change.

The Australian government has not endorsed the tax up to this time. To learn more about the tax and sign an online petition visit the website of the Ronbin Hood Tax

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