Band of merry men and women call for Robin Hood Tax

PCS conference delegates donned Robin Hood hats on Brighton seafront today to highlight the need for the UK government to support a tax that could raise billions of pounds for public services.

The Public and Commercial Services union (PCS) has joined supporters from around the globe in calling for a small financial transaction tax (FTT), popularly known as the Robin Hood tax, to be levied on banks’ high frequency transactions, financial speculation, credit default swaps and other derivatives.

The idea is backed by entrepreneurs Bill Gates and Warren Buffet, religious leader Desmond Tutu, and European heads from across the political spectrum, including French president Francois Hollande and German chancellor Angela Merkel.

Several European countries are set to introduce the tax but the UK is lagging behind, claiming it would upset the City of London and see traders flee elsewhere.

There is no evidence to prove the government’s claims, and PCS believes the FTT should be seen as an opportunity for the financial sector to pay its share towards the economic gloom it helped create.

The stunt was part of the Robin Hood Tax campaign’s global week of action and coincides with the European Union summit in Chicago.