A Robin Hood Tax would be a tiny tax on the vast wealth of our financial sector; by taxing the few, we could do so much more for the many, writes Chris Keates.
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Chris Keates is the General Secretary of the NASUWT
Next time someone says that there’s no alternative to the cuts, no money for tackling child poverty or climate change, that we cannot afford to make sure that every child in developing countries goes to school, remind them about the Robin Hood Tax.
The vast wealth locked up in the financial sector, used only for gambling on the stock market or for paying out bonuses that dwarf anything ordinary people see in their wage packets, needs to be put to good use.
And a Robin Hood Tax would be a great way to do it.
Despite their differences over austerity and growth, even two such different political leaders as Germany’s Angela Merkel and the newly elected French Socialist President François Hollande can see the benefit of such a tax.
Unlike our own prime minister – who seems unable to distinguish between the interests of City fat cats and the British people – Chancellor Merkel and President Hollande are resisting the opposition from the financiers of their own financial centres in Frankfurt and Paris.
Next Wednesday, the leaders of the EU will gather in Brussels for an informal summit and a discussion about how to get the European economy growing again. The financial transactions tax (which is what people who attend informal summits call the Robin Hood Tax) will be a key part of the agenda.
And Britain, once again, will be on the sidelines, lecturing the rest of Europe, regardless of the fact we’re back in recession, while despite all its woes, the eurozone isn’t.
• Report rebuts “disproportionate, inconsistent and disingenuous” attacks on FTT 13 Mar 2012
• Robin Hood Tax gains momentum – on the continent 3 Jan 2012
• Osborne starts to panic about the chance of a Robin Hood Tax 9 Nov 2011
• On the Financial Transaction Tax, why is Osborne on the side of the one per cent? 2 Nov 2011
• Miliband and Balls need to be more vocal in support of the Robin Hood Tax 17 Oct 2011
It is time we joined the mainstream and started talking seriously about how we can make sure our bloated finance sector pays its fair share; how we can rebalance the economy so our best and brightest students go into careers that make more than money; and how we can fulfil our commitments to education for all in Africa and beyond.
A Robin Hood Tax would be a tiny tax on the vast wealth of our financial sector; by taxing the few, we could do so much more for the many.
For more information, visit www.robinhoodtax.org.uk.
62 Responses to “As Europe looks set to back a Robin Hood Tax, Osborne remains on the side of the 1%”
Plymouth NASUWT
Great blog from @nasuwtunion "As Europe looks set to back a Robin Hood Tax, Osborne remains on the side of the 1%" http://t.co/6Wa4RZIQ
Anonymous
The government’s one?
Take the contaributions and do a Maxwell. Spend them, not invest them,
Yep, that’s the scam. It’s going to screw people over so badly its terrible. That you support it shows your aim. Get your cash now, screw others.
Anonymous
No they aren’t.
There is no fund for the civil servants. None.
For the police – there is a fund.
For LG, there is a fund, but its got a massive black hole, its beyond a joke.
For the recently nationalised Post Office pension scheme, they are going to sell off all the assets, and leave the debts.
So where is the fund for the civil servants so we can get some information about its value?
Anonymous
Typo – for the police there is no fund
Anonymous
Yes, because Germany’s economic performance…oh, right.
No, you keep beating those evil poor for savings.