The National Union's support of the measure offers the French president a counterpoint to the opposition expressed by the Harper government.
Ottawa (14 Feb. 2011) - James Clancy, national president of the 340,000 member National Union of Public and General Employees (NUPGE) has written the president of France, Nicolas Sarkozy, supporting his call for a Financial Transaction Tax (FTT) - popularly called the Robin Hood Tax - to be discussed at the upcoming G8 and G20 meetings.
"We are especially encouraged that you will be including a discussion of the Financial Transaction Tax (FTT) on the agenda of the G8 and G20 Summits. This is an important initiative and you and your government are to be applauded for championing it," said Clancy.
"In our opinion, it offers an elegant and effective measure to address a wide range of global problems - most notably poverty and climate change."
Sarkozy has assumed the Presidency of the G8 and G20. The G8 Summit is expected to take place in June 2011 while the G20 Summit will be held in November 2011. Both meetings will take place in France.
Activists around the world are encouraged by France's, and other nations, support of the FTT. The proposal would see a small, 0.05% tax on financial transactions, estimated to generate approximately $400 billion (Cdn) per year.
Clancy goes on to say 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."
The National Union's support of the measure offers the French president a counterpoint to the opposition expressed by the Harper government.
"Unfortunately, our federal government has not similarly embraced the policy proposal. In fact, they played an obstructionist role in efforts to discuss the FTT at the G8 and G20 meetings in Canada," explains Clancy.
"We want to assure you that the FTT enjoys considerable support in Canada. Most Canadians want to see greater action on global poverty and climate change and look to the G8 and G20 to bring forward innovative funding mechanisms like the FTT. "
NUPGE
The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE
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