City MP backs Robin Hood tax campaign
EDINBURGH West Liberal Democrat MP John Barrett has backed a campaign for a Robin Hood tax on bank transactions to raise billions of pounds to tackle poverty and climate change at home and abroad.
The Robin Hood tax – so called because it aims to take money from the rich investment banking operations and redistribute it to the most vulnerable in society – has the support of world leaders.
By taking an average of 0.05 per cent from speculative banking transactions, around 263 billion would be raised globally every year, which would be split with half spent in the country where it was generated and the other half going to developing countries.
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Tuesday 14 February 2012
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