Financial Transaction Tax

EDM number 355 in 2013-14, proposed by Greg Mulholland on 04/07/2013.
Categorised under the topics of Financial services and Taxation.

That this House supports the Robin Hood tax campaign which calls for the introduction of a financial transaction tax; notes that by taking an average of 0.05 per cent from speculative banking transactions, hundreds of billions of pounds could be raised every year to tackle poverty and climate change, at home and abroad; believes that banks, which had a large role in causing the economic crisis, should do more than just pay back the bailouts or insure against future crises; further believes that a Robin Hood tax would be an effective and popular response, with a poll last year finding 76 per cent of respondents were in support of the Robin Hood tax; commends the work of all those organisations backing this campaign who have mobilised their supporters to increase the pressure for such change; further believes that this tax is an idea that has come of age; is disappointed at the EU proposal to channel funds raised directly into the general EU budget without consideration for development and aid; and urges the Government to do all that is possible to ensure that the Robin Hood tax becomes a reality.

This motion has been signed by a total of 23 MPs.