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date: 10 March 2010

embargo: immediate

TUC welcomes European Parliament vote for Robin Hood Tax

The TUC has welcomed the vote today (Wednesday) in the European Parliament in favour of financial transaction taxes.

TUC General Secretary Brendan Barber said: 'Europe's MEPs have backed Robin Hood. This is a very significant development which will be warmly welcomed by the unprecedented coalition of development, poverty, faith, environmental and union groups that have come together to promote the Robin Hood Tax.

'Spending cuts are not the only answer to the deficit. It's right that the banks and hedge funds who did so well from the boom years now make a proper contribution to clearing up the mess they have made.

'Transaction taxes - or the Robin Hood Tax as we prefer to call them - can play a key role in making sure the right people pay for the crisis.'

NOTES TO EDITORS:

- The text of the resolution is available at http://www.europarl.europa.eu/sides/getDoc.do?type=MOTION&reference=B7-2010-0133&language=EN

- All TUC press releases can be found at www.tuc.org.uk

- Register for the TUC's press extranet: a service exclusive to journalists wanting to access pre-embargo releases and reports from the TUC. Visit www.tuc.org.uk/pressextranet

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 (300 words) issued 10 Mar 2010