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Belgian Initiative For A Currency Transaction Tax

EDM number 1560 in 2003-04, proposed by Harry Barnes on 20/07/2004.

That this House warmly welcomes the new legislation passed by the Belgium Parliament on 1st July for currency transaction tax (CTT), which serves as a blueprint for the raising of billions in revenue to benefit the world's poorest people and help meet the UN Millennium Development Goals (MDGs); notes that this new law surpasses previous CTT propositions because the tax rate in normal trading conditions is sufficiently low as not to adversely affect the market; acknowledges that this law is testament to the feasibility of the technical aspects of the CTT; further notes that the legislation includes the mechanism of a higher rate tax triggered in the event of a sharp change in the value of a currency to act as a circuit-breaker, to guard against financial shocks and seriously enhance economic stability for the protection of employment and business; further welcomes HM Treasury's acknowledgement that new income streams are urgently required to pay for the MDGs; further recognises the Treasury's efforts to achieve the International Finance Facility to help pay for the MDGs; and further nots that only by means of complementary income streams can a doubling of aid for the reduction and eradication of world poverty realistically be achieved, which is the leadership opportunity for the UK Presidency of both the G8 and the European Union in 2005.

This motion has been signed by a total of 52 MPs.

Harry Barnes20/07/2004North East DerbyshireLabourProposed
Adam Price20/07/2004Carmarthen East & DinefwrPlaid CymruSigned
Richard Allan20/07/2004Sheffield, HallamLiberal DemocratSigned
Peter Bottomley20/07/2004Worthing WestConservativeSigned
Desmond Turner21/07/2004Brighton, KemptownLabourSigned
Rudi Vis21/07/2004Finchley & Golders GreenLabourSigned
Simon Thomas21/07/2004CeredigionPlaid CymruSigned
David Taylor21/07/2004North West LeicestershireLabour Co-operativeSigned
Mike Hancock21/07/2004Portsmouth SouthLiberal DemocratSigned
Andrew George21/07/2004St IvesLiberal DemocratSigned
David Drew21/07/2004StroudLabour Co-operativeSigned
Martin Caton21/07/2004GowerLabourSigned
Kevin McNamara21/07/2004Kingston upon Hull NorthLabourSigned
Alan Simpson22/07/2004Nottingham SouthLabourSigned
Tony Colman22/07/2004PutneyLabourSigned
Jeremy Corbyn22/07/2004Islington NorthLabourSigned
Andrew Stunell22/07/2004Hazel GroveLiberal DemocratSigned
Paul Tyler22/07/2004North CornwallLiberal DemocratSigned
Michael Weir22/07/2004AngusScottish National PartySigned
Pete Wishart07/09/2004North TaysideScottish National PartySigned
Roger Godsiff07/09/2004Birmingham, Sparkbrook & Small HeathLabourSigned
Bill Etherington07/09/2004Sunderland NorthLabourSigned
David Crausby07/09/2004Bolton North EastLabourSigned
Tom Brake07/09/2004Carshalton & WallingtonLiberal DemocratSigned
Chris McCafferty07/09/2004Calder ValleyLabourSigned
Christine Russell07/09/2004Chester, City ofLabourSigned
Jim Cousins07/09/2004Newcastle upon Tyne CentralLabourSigned
Paul Holmes08/09/2004ChesterfieldLiberal DemocratSigned
David Lepper08/09/2004Brighton, PavilionLabour Co-operativeSigned
Annabelle Ewing08/09/2004PerthScottish National PartySigned
Jane Griffiths08/09/2004Reading EastLabourSigned
Jenny Tonge08/09/2004Richmond ParkLiberal DemocratSigned
Steve Webb08/09/2004NorthavonLiberal DemocratSigned
Hywel Williams09/09/2004CaernarfonPlaid CymruSigned
Ann Cryer13/09/2004KeighleyLabourSigned
Harold Best13/09/2004Leeds North WestLabourSigned
Marsha Singh14/09/2004Bradford WestLabourSigned
Paul Truswell14/09/2004PudseyLabourSigned
Valerie Davey14/09/2004Bristol WestLabourSigned
Nigel Jones14/09/2004CheltenhamLiberal DemocratSigned
Simon Hughes14/09/2004North Southwark & BermondseyLiberal DemocratSigned
Andy Reed14/09/2004LoughboroughLabour Co-operativeSigned
Paul Flynn15/09/2004Newport WestLabourSigned
Roger Williams15/09/2004Brecon & RadnorshireLiberal DemocratSigned
John McDonnell16/09/2004Hayes & HarlingtonLabourSigned
Janet Dean16/09/2004BurtonLabourSigned
Neil Gerrard16/09/2004WalthamstowLabourSigned
Kelvin Hopkins11/10/2004Luton NorthLabourSigned
Harry Cohen11/10/2004Leyton & WansteadLabourSigned
Rob Marris14/10/2004Wolverhampton South WestLabourSigned
Gerald Kaufman20/10/2004Manchester, GortonLabourSigned
Julie Morgan16/11/2004Cardiff NorthLabourSigned

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