In response to reports the Financial Transaction Tax may be scaled back

Wednesday, May 29, 2013

For immediate release:

In response to reports the Financial Transaction Tax may be scaled back, David Hillman, spokesperson for the Robin Hood Tax campaign, said:

"It is true that countries are debating the details of the tax but our understanding is there remains a firm intention to agree a strong FTT that will be popular with the public and raise tens of billions from the banking industry.

"That is why the banks are lobbying so hard - precisely because they know they will soon be paying it. And if the FTT works well in Europe, it will be harder for them to argue against paying their fair share here.

"This tax must be implemented in full - it's time the special privilege of the financial sector, which has cost the rest of society so dear, is brought to an end." 

 

For more information contact:

Simon Chouffot: 07725 879 580 simon@robinhoodtax.org.uk

Jon Slater: 07876 476 403 jslater@oxfam.org.uk

Notes to editors:

The Reuters report appeared today (Thursday 30 May): http://www.reuters.com/article/2013/05/30/us-eu-tax-idUSBRE94T0GL20130530  

The Robin Hood Tax campaign is a coalition of 117 UK organisations including Barnardo’s, Comic Relief, Oxfam, Friends of the Earth, Stamp Out Poverty and the TUC: www.robinhoodtax.org.uk.

The campaign has more than 250,000 supporters and is endorsed by over 1,000 economists and politicians from all main political parties.

The campaign is calling for financial transaction taxes to help tackle poverty and climate change, at home and abroad.

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