The Robin Hood Tax » Take action

Ask the Chancellor for a budget that helps, not hurts, the public.

The government announces its new budget on 22 June. If the Government increases VAT to 20%, for instance, it will hit the public hard and raise £11 billion a year. Other measures like cuts to vital public services will hurt communities and set back the recovery. A Robin Hood Tax on the banks could raise £20 billion.

Subject

Dear Mr Osborne,
 
I support the Robin Hood Tax, as do many tens of thousands of others. I want your emergency budget to help, not hurt, the poor.
 
I am very pleased that you support a bank tax, but I want you to introduce a bank tax that raises £20bn and helps the poorest people at home and abroad, and tackles climate change.
 
An ambitious bank tax would mean those with the broadest shoulders bear the brunt of the cost of the economic recovery, whereas a rise in Value Added Tax or cuts to public services hits the poorest hardest.
 
I am looking to you to introduce a Robin Hood Tax on the banks in three ways:
 
• Implement a bank tax that raises £20bn a year
• Make sure the proceeds from the bank tax will be used to help the poorest people at home and abroad, and to help combat climate change
• Lead the rest of the world and work with other G20 governments to achieve a fair tax or taxes on the financial sector.  I think a Financial Transaction Tax is still the most effective and efficient way to do this. It could raise as much as £400bn annually. 
 
This is not impossible. As the financial sector returns to profit, and bankers continue to award themselves huge bonuses, we know they can afford to pay; the poorest people can’t.  
 
This is your chance to prove your new coalition’s commitments to a fair economic recovery – and I hope you will take it. 
 
P.S I care so much about this idea that I have donated money to pay for a take over of the advertisements in Westminster Tube Station – look out for them.

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What we're asking for: in a nutshell

Ask the Chancellor for a budget that helps, not hurts, the public.

Merry (wo)men