Today, as G20 finance chiefs gathered in Venice, Robin delivered this letter from more than 100 major economists, urging them to immediately introduce a Robin Hood Tax on banks to help cover the costs of the post-pandemic recovery.
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Take $100 billion from banks: top economists tell Finance Ministers!
Robin’s list of signatories spanned every continent and included renowned US economist Jeffrey Sachs, and France’s Gabriel Zucman.
The urgent appeal from such highly regarded experts was covered in the Guardian and leading French paper, Le Monde.
The pandemic has multiplied existing inequalities both at home and abroad. Health systems have been brought to their knees; economies shutdown; livelihoods deteriorated and loved ones lost. But whilst wealthier nations begin to regenerate due to accelerated vaccine rollouts, poorer nations, already seriously burdened by debt, are being forced to make life and death choices between servicing their debt and the provision of healthcare for their citizens.
If the G20 implemented a Robin Hood Tax on banks, an additional $100billion could be generated every year to help nations support their people’s health and livelihoods, address the devastating impacts of a warming planet, and prepare for future pandemics.
Amplifying this letter is a crucial step in our plan to make those who can afford to - pay the most.
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From the team at Robin Hood Tax
Why should there only be a tax on the banks? In East London, Nationwide Building Society are closing down a few of their branches. East Ham and Upton Park are safe.
High Street banks, face competition from start up 'digital banks', which don't have any branches. People can open a bank account, simply by installing an app. People doing things more on-line. There is a cost to running a branch network. You have new payment systems GooglePay ApplePay etc...
If someone earned a lot of money, they would pay a higher rate of tax, so why are n't big businesses paying more tax, if they make a lot of profit or have a dominant position.
They kill off the small players.
Look at an old photo of Newham, it mostly small independent traders. Now the wealth is in the hands corporations and multi-nationals.
Most of Westfield, was given to big companies.
Tax the hedge funds. ADSA has been bought with leveraged debts, and there is an implication of higher prices, pressure on farmers. Morrisons is under threat....
Corbyn was focused on rich people. He was wrong, he should have focused on big corporations. If hte big fish, keep eating the little one, there will be no little fish left.
When a big company takes over another, it has huge implications. e.g. Cadbury's etc...
the robin tax is a small levy on equity trading not retail banks. I agree this should have been made clearer
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