May 5, 2011

The National Union of Public and General Employees (NUPGE) and the All Together Now campign have released a new pamphlet to support the campaign for a Robin Hood Tax (download here).

The pamphlet urges Canadians to get involved in the campaign for a Financial Transaction Tax (FTT), a proposal for a small, 0.05% tax on financial transactions, estimated to generate approximately $400 billion (Cdn) per year.

"We all know the Robin Hood story – how he and his band fought for the poor against the power of the very rich!"

"Well now it’s our turn! We can all be part of Robin Hood’s merry band in our own story of tax fairness."

The tax would not apply to the overwhelming majority of people. But it would apply to a sector of the economy that pays virtually no tax.

A global financial transaction tax is on the agenda for the upcoming G8 and G20 meetings in France.

NUPGE's National President James Clancy, in a recent letter to French President Sarkozy, who is also president of the G8 and G20 and a supporter of the FTT, said that the tax "offers an elegant and effective measure to address a wide range of global problems - most notably poverty and climate change."

Clancy thinks that these "funds could be used to pay for the social costs of the economic crisis, to fight global poverty, to meet global public needs such as health care and to mitigate and adapt to the impact of climate change."

He adds that the funds "would also contribute to greater stability within the financial system by reducing speculation and excessive liquidity."

Download the Robin Hood Tax leafet or order copies by emailing alltogethernow@nupge.ca

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