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date: 8 March 2010

embargo: for immediate use

European Parliament debates Robin Hood Tax tonight

Welcoming the European Parliament debate tonight (Monday) on the idea of a financial transactions tax (known in the UK as the Robin Hood Tax), TUC General Secretary Brendan Barber said:

'The European Parliament has put the Robin Hood Tax at the top of the political agenda. Tonight's debate is only the beginning, but it is significant that all the major parties have agreed to ask the European Commission to investigate how to implement a financial transactions tax.

'We know that the Austrian and Belgian Governments are already committed to a European financial transactions tax. The French, German and UK Governments have supported the idea of a global tax. If they came out for a Europe-wide tax, it would be a major breakthrough.

'MEPs are taking the lead and European Governments should take notice. A Europe-wide Robin Hood Tax could make a significant contribution to preventing cuts in public services, tackling climate change and reducing global poverty.'

The European Parliament, meeting in Strasbourg this week, will debate the issue at about 7pm today (6pm UK-time), starting with an Open Question to the Commission and concluding with a debate on a motion from the influential Economy and Monetary Affairs Committee. The vote is on Tuesday.

The motion has been agreed by the four largest parties in the European Parliament (the centre-right EPP, the ALDE which includes UK Liberal Democrats, the S&D group including the Labour Party, and the Greens), so it is likely to be adopted. The question and motion are in the name of the Chair of the EP Economy and Monetary Affairs Committee, British Liberal Democrat MEP, Sharon Bowles.

Later in the week, the European Parliament will discuss a report from the Development Committee which also supported a financial transactions tax.

NOTES TO EDITORS:

- The oral question is at http://www.europarl.europa.eu/sides/getDoc.do?type=OQ&reference=O-2010-0025&language=EN and the motion for a resolution is at http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2010-0133&language=EN

- Influential American Economist Professor Jeffrey D Sachs will be speaking in favour of the Robin Hood Tax campaign at the RSA in central London tomorrow (9 March). Joining Jeffrey Sachs on stage will be screenwriter and director Richard Curtis, who is one of the supporters of the Robin Hood Tax coalition. Chaired by Alan Beattie, World Trade Editor at The Financial Times, the event - which runs from 10am-11.30am - also features presentations from Major Ivor Telfer from the Salvation Army who will explain why his organisation is backing the popular campaign. Actor Bill Nighy who stars in The Banker - which helped launch the Robin Hood Tax campaign on 10 February and which has been viewed online by up to 500,000 million people - will introduce the short film and explain why he thinks a tiny tax on the banks is a cause worth supporting.

- If you would like to attend the RSA event, you must register your attendance via this link on the RSA website www.theRSA.org/events

- You can follow the Robin Hood Tax campaign at www.robinhoodtax.org.uk or on Twitter @robinhood

- Media materials - including the film and campaign creatives are available to download http://www.robinhoodtax.org.uk/media

- There are 94 organisations supporting the Robin Hood Tax Campaign including ActionAid, Barnardo's, Cafod, Christian Aid, Comic Relief, Disability Alliance, General Assembly of Unitarian and Free Christian Churches, National Council for Voluntary Organisations, nef (the new economics foundation), Oxfam GB, RSPB, The Salvation Army, Save the Children UK, Stamp Out Poverty, Stop AIDS Campaign, Tearfund, Trades Union Congress and seventeen trade unions, UNA-UK, Unicef UK, YWCA, Zacchaeus 2000 Trust.

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Brenchley T: 020 7467 1337 M: 07900 910624 E: ebrenchley@tuc.org.uk

Press release (700 words) issued 8 Mar 2010