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We are part of a global movement of people, united in the belief that the banks must pay their fair share. We're committed to reducing poverty, at home and internationally, and tackling climate change by taxing financial transactions.
We are calling for the Irish Government to introduce a financial transactions tax. This is a tax on the financial services sector, applied to trading in bonds, shares and derivatives. The European Commission is proposing a tax of 0.1% on trading in bonds and shares and 0.01% on trading in derivatives.
This tax would raise much needed revenue for the exchequer, reduce harmful economic activity by short-term speculators and high frequency financial traders, and make resources available to invest in public services, address climate change, eliminate poverty, and support development aid.
Eleven EU Member States have already agreed to introduce the Tax. But the Irish Government has to date failed to join them.
We call on the Irish Government to:
In Ireland Claiming our Future is facilitating the Campaign for a Financial Transaction Tax (Robin Hood Tax). We are connected to, and receive support from, Robin Hood Tax campaigns in other countries. Claiming our Future is a national non-party-political civil society network that comprises individuals and organizations from a broad range of civil society sectors. Established in 2010, we aim to make real the values of equality, environmental sustainability, participation, accountability and solidarity.
Over 40 leading civil society organisations have so far joined with Claiming Our Future to call for the introduction of a Financial Transaction Tax in Ireland. We are united in the belief that the brunt of the financial crisis should not be burdened on those least able to afford it.