Taking from the rich and giving to the poor

This week the Robin Hood Tax campaign launches in Australia.

Here’s the global campaign video:

And the aim?

The Robin Hood Tax is a tiny tax on banks, hedge funds and other finance institutions… that would raise billions to tackle poverty and climate change, at home and abroad.

It can start as… low as 0.005 per cent – and average… 0.05 per cent. But when levied on… the billions of dollars moving round the global finance system daily through transactions like as foreign exchange, derivatives…  and share deals, it could raise hundreds of billions of dollars annually.

That can provide for vital investment in crucial public services like healthcare and schools, aid the fight against global poverty and climate change, and ask the banks to play their part in helping shape the future of our world.

The tax would not be levied on everyday banking transactions conducted by individuals.

Text and images ©2024 Antony Loewenstein. All rights reserved.

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