As the G7 gets underway today leading campaigners, including world-renowned economist, Jeffrey Sachs, and Robin’s Director, David Hillman, delivered a letter to the world leaders gathered in Cornwall, strongly urging immediate introduction of Robin Hood Taxes to benefit the millions in developing countries in acute need because of the pandemic.
The taxing game has shifted. Last week’s announcement by the G7 to introduce minimum tax rates on global corporations, like Amazon and Google, is an important step in the right direction.
Whilst welcome, it’s not enough! The G7 must go further, making sure that banks are included alongside tech companies!
Whilst the G7 leaders see the light at the end of the covid-19 tunnel, poor economies are struggling to cope as cases of the pandemic continue to rise, health systems are overwhelmed and vaccines are in chronically short supply. At the same time, many of the poorest countries are also being burdened by unfair debt repayments and suffering losses and damages from our changing climate.
It is because of these multiple crises, that this diverse group of, economists, renowned activists, such as Ralph Nader, journalists and tax experts, have signed and delivered this letter to the G7 urging them to get on with introducing Robin Hood Taxes right away.
If there was ever a time to tax those with the deepest pockets, it is surely now.