Tasa Robin Hood

Oxfam welcomed today’s vote by European Parliamentarians in support of a strong European Financial Transaction Tax (FTT) covering all instruments (shares, bonds and derivatives), as put forward by

Reacting to the vote of the European Finance Ministers in favour of the 'enhanced cooperation procedure' for a financial transaction tax in eleven European countries, Nicolas Mombrial,

European Commission President Jose Manuel Barroso said today at the G20 that he expects agreement on a Financial Transaction Tax (FTT) to be reached soon.

A Eurozone breakup could cost the world’s poorest countries $30 billion in lost trade and foreign investment, international agency Oxfam has warned ahead of the G20 leaders meeting in Mexico to discuss the state of the global economy.

What should have been a watershed G20 summit for shared global prosperity fell short of its potential – but some of the strongest ideas, especially the Robin Hood Tax, did overcome the opposition of some countries.

Oxfam spokesperson Luc Lampriere said:
 

Oxfam spokesperson Luc Lampriere said:

Aid from rich nations is likely to fall by at least $9.5 billion by the end of 2012 – the biggest drop in aid for 15 years, according to new calculations by international agency Oxfam ahead of this week’s G20 Summit (Nov 3-4).

“Food, funds, inequality” issues will test G20 leaders’ ability to transform the global economy. The 2011 G20 Summit could be a watershed for global stability and prosperity if leaders rise above a narrow vision of self-interest and act decisively for the world’s poorest citizens.

European Commission President Jose Manuel Barroso today threw his full support behind an EU Financial Transaction Tax (FTT) arguing that banks must make a '”contribution” back to society af