IRT and Robin Hood Tax

Over the past few months, numerous charities have signed up with The Robin Hood  Tax, an incentive to get large businesses and banks to pay a small tax to support national and international efforts to improve people's lives. Now IRT has joined the campaign, so let us tell you a little bit more about The Robin Hood Tax.

What is it?
The Robin Hood Tax is a tiny tax on bankers that would raise billions to tackle poverty and climate change, at home and abroad.

By taking an average of 0.05% from speculative banking transactions, hundreds of billions of pounds would be raised every year.

With that money we can help improve the NHS, support schools and fight against child poverty in the UK. The funds will also go towards tackling  poverty and climate change around the world.

Why has IRT joined the campaign?

At IRT we feel The Robin Hood Tax is a crucial opportunity for the UK to fearlessly lead the way for the international community towards corporate social responsibility on a global scale. It is a step in the right direction to create the level of impact needed to address some of the world's most pressing concerns, such as climate change and economic inequality. 

Who else is in?

Gordon Brown, Angela Merkel (the German Chancellor) and Nicolas Sarkozy (the French President) have all spoken out in support of a tax on financial transactions.

Several prominant figures in the business world are for The Robin Hood Tax aswell: Lord Turner (chairman Financial Services Authority), George Soros (the philanthropist) and Warren Buffett (US inventor). Hundreds of economists have backed the idea as well.

Have a look at all the charities who have signed up to The Robin Hood Tax.

The list includes big charities such as Oxfam, Greenpeace, Save the Children and the Salvation Army, so it's not just the little charities who are supporting this idea!!

Some people don't like Robin Hood Tax!

A major concern is that banks will move away from the UK to places where there is no such thing as The Robin Hood Tax. People are also worried that this tax will passed on to the banks customers.

The Robin Hood Tax suggests that this sort of scheme will affect major wholesale financial transactions – such as currency exchange, share dealings and derivatives trading. This should neither replace planned expenditure nor be passed on by the banks to their customers. And whilst we campaign for an international tax, Europe and the UK do not have to wait for the rest of the world to act!

IRT feels that fears about banks taking their business away from the UK may not necessarily
come true and we hope that instead we hope it will raise corporate socail responsibility. 

Still not convinced? Have a look at this video with Bill Nighy about The Robin Hood Tax concept!

Have your say!

Don't agree with any of this? Or maybe you do, but you have something to add? We'd really like to hear from you! Post your comments below, or on the IRT Facebook page!