From the co-ordinator of the Robin Hood Tax campaign: “Unbelievably, the UK has mounted a legal challenge to the 11 European countries who are now moving forward to introduce an FTT worth a potential 40 billion euros in 2014. My first message to you is to ask that you to join onto an urgent action to George Osborne to get the UK government to drop this legal challenge.
As a quick bit of context, as of Jan 22nd this year the campaign made a serious breakthrough when European Finance Ministers approved that the FTT could be implemented by 11 countries under a rarely used procedure called “Enhanced Cooperation”. This means that the countries like the UK that are against FTT progress have effectively been sidelined. This jolted the financial sector lobby into action and they have started attacking the FTT in the media on a regular basis. Continue reading