Labour Blog

Labour Blog

FG Defends Bankers - Again

Posted on February 12, 2011 at 12:57 PM

The Labour Party manifesto contains a small commitment on banking - to work within the United Nations for the introduction of a 0.05% levy on international financial transactions.

This tiny tax is commonly known as a Robin Hood tax, and it is estimated that such a tax would raise in the region of €100,000,000,000 per year. It is a modest proposal, and one that has been backed by hundreds of international experts and political parties.

Astonishingly, Fine Gael have criticised our stance on this issue. As they did with the bank guarantee, Fine Gael are yet again standing on the side of the wealthiest bankers, as they continue their plans to savage social welfare rates over the next three years.

This terrific video sets out the value of the Robin Hood tax.

Permanent link | Categories: Finance