National Union urges Harper government to join EU counterparts in implementing Robin Hood Tax

National Union wants Harper government to join with its European counterparts in implementing an FTT.

Ottawa (4 Feb. 2013) - With the recent decision by Finance Ministers in the European Union (EU) to allow 11 member countries to implement a Financial Transactions Tax (FTT and more commonly referred to as the Robin Hood Tax) the National Union of Public and General Employees (NUPGE) is urging the Harper government to reconsider their opposition to the proposal.

In a letter to the Prime Minister, NUPGE's National President James Clancy explains that "as more countries see the need and value of an FTT they will similarly move to implement such a measure. We believe that it is time that Canada join with its European counterparts (which include a number of the world's most advanced economies) in implementing an FTT."

Clancy points out that "a 13 country global poll, conducted by the International Trade Union Confederation (ITUC), found support for an FTT at 63 per cent. This includes 74 per cent in Canada!"

Clancy worries that "Canada, which used to be a leader in progressive global initiatives, is becoming isolated in the world community. Our reputation as supporting efforts to end global poverty, enhance the quality of life for the world's people, and address climate change is being tarnished by our actions on the world stage."

However, Clancy says, "by advocating for a global FTT, and implementing such a measure domestically, we would be signalling to the global community that Canada cares."

Clancy further points out that "while the Robin Hood Tax is not the sole solution to the world’s problems, it would benefit billions of the world’s people, help fund efforts to address climate change and act as a disincentive for many risky financial transactions. Furthermore, it can be easily implemented and would apply to those institutions that have been largely exempted from paying taxes."

More information:

National Union on Robin Hood Tax

Canadians for the Robin Hood Tax on Facebook

Canadians for the Robin Hood Tax

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