Robin Hood Tax

With Italy, France and Germany already in support, the UK is now the only centre-right Government amongst Europe's five biggest economies not to back the tax.

Advocates see progress during meeting as number of countries backing the Robin Hood Tax continues to grow.  Canadians see need for more pressure on Harper government to join.

The 99% and the 0.001% agree on something.  Will Harper government continue to oppose?

Respondents in half of 99 countries surveyed say they do not have confidence in their national governments.

The lawmakers proposal follows a similar measure being discussed by the European Union (EU).

The Harper government's opposition to the Robin Hood Tax draws criticism from Canada's Occupy movement.

"Such a taxation would be very useful to promote global and sustainable development according to principles of social justice and solidarity". 

"Our organizations say NO to this agreement, which has been negotiated for the sole benefit of transnational corporations at the expense of people's rights and of the protection of the environment," says the declaration.

"Let's send them a clear message: We want you to slow down some of that $1.3 trillion easy money that's sloshing around the global casino each day - enough cash to fund every social program and environmental initiative in the world." 

National President James Clancy joined protesters in Ottawa to show solidarity and provide support. NUPGE activists share some of their photos from the weekend.

“The Harper government is not speaking on behalf of most Canadians on this issue." - James Clancy, National President, NUPGE

International watchdog points to extremely low tax rates on businesses, low regulation of resource industries and support for tax havens in the Caribbean.

“It is time for the financial sector to make a contribution back to society,” - European Commission President José Manuel Barroso.

While the Harper government has rejected the proposal in the past it is hoped that their position will change as a result of the growing international support.

Financial Transaction Tax (FTT) campaigners welcome support but emphasize that the revenues should be used to tackle poverty and climate change.

$605 trillion of derivatives speculation in 2010 – it’s time the finance markets paid their way in global economy, says international union body.

The resolution sets a clear direction for upcoming G20 meetings in France over which Nikolas Sarkozy, will be acting as President.

Pamphlet urges Canadians to be a “part of Robin Hood’s merry band in our own story of tax fairness.”

Members of European Parliament vote in favour of Robin Hood Tax but Canada’s Finance Minister Jim Flaherty continues to oppose its introduction.

National Union supports campaign focusing on upcoming G8 and G20 meetings in France.

The National Union's support of the measure offers the French president a counterpoint to the opposition expressed by the Harper government.

NUPGE president James Clancy says Canada has "an excellent opportunity" to help build a stronger, more equitable and just global financial system.

Small levy on international currency transactions would generate an estimated $35 billion annually.

'We need a real hands-on approach to banking supervision and to excessive bankers' pay, and to shielding commercial and retail banking from irresponsible shadow banking and speculation.' - ITUC.

Britain's David Cameron tells Harper that the UK and 'many other countries' will oppose Canada's decision to support big banks and international financial institutions.

James Clancy says political pressure is needed to reverse Stephen Harper's decision to oppose a global tax on banks and support instead wealthy bankers and foreign financial institutions.

Thousands expected to raise their voices for a Financial Transactions Tax both in the streets and online.

"Frankly, I am not entirely surprised that the Harper government would choose the banks over social services, the poor and the environment," said James Clancy, NUPGE national president.

NUPGE president James Clancy says Canada should support and advance the idea of a global tax on financial institutions at G8 and G20 meetings at Huntsville in June.

Enthusiasm from Europe spreads to Canada in advance of G20 meetings planned for Toronto in June.

"This is an idea that NUPGE has supported for a long, long time." - NUPGE president James Clancy.

British-based campaign says a charge of just 1/20th of 1% on financial transactions not involving the public would raise an estimated £250 billion ($400 billion Cdn) a year.