The Alliance Party is backing the Robin Hood Tax international day of action on Saturday 29 October 2011.
Alliance Party co-leader and Dunedin South candidate Kay Murray says the goal of the global day of action is to highlight the need for a financial transactions tax, or “Robin Hood” tax.
“This people’s movement is demanding the wealthy nations of the world introduce a FTT to solve the growing economic crisis in Europe and elsewhere.”
The Alliance is one the founders of the Tax Justice movement in New Zealand, that presented a 40 000 signature petition to Parliament in August, asking for GST to be removed from food and a Financial Transactions Tax to be introduced.
“It has been estimated that a financial transactions tax could generate as much as $400 billion a year globally. This could provide much needed tax revenue for countries in economic strife.”
Ms Murray says a global FTT would send a clear message to the financial sector that the rest of the world will no longer tolerate financiers treating our global economy like their own personal casino.
“The winners take it all, but the losers don’t have to pay. We have to pay for them.”
Spurred on by the Robin Hood campaign, support for a financial transactions tax is growing worldwide.
Advocates include such diverse public figures as French President Nicolas Sarkozy and Archbishop Emeritus Desmond Tutu.
Ms Murray says the Alliance will be joining the actions planned for the main centres and building public awareness of the benefits of a financial transactions tax both in New Zealand and globally.
“The Alliance financial policy has always included a financial transactions tax to curb the worst excesses of the financial sector and provide the tax revenue needed to do away with GST.”
Ms Murray says GST places a burden on low and middle income earners, but financial services are the one sector in New Zealand that has never had to pay GST.
“Robin Hood” Day Events include