World 1st: UK political party backs Robin Hood
LONDON: The UK’s Liberal Democrats are preparing to include the Robin Hood Tax in their election manifesto when it launches on Wednesday, according to The Independent newspaper.
“The move would align the party with a campaign that has attracted high profile showbiz supporters, including Bill Nighy and Sir Ben Kingsley, who have both made videos promoting the idea,” writes Sean O’Grady, The Independent Economics Editor, in an exclusive report.
“Although the Liberal Democrats Treasury spokesman, Vince Cable, has already come out in favour of a 10 per cent levy on bank profits, this will be the first time a mainstream political party has embraced the idea of a small tax on the trillions of pounds of inter-bank financial transactions.”
The Liberal Democrats go up against rivals Labour and the Conservative Party in Britain’s general election on May 6. The Conservatives also back special taxation on banks, and Labour’s Chancellor, Alistair Darling, has spoken favourably about a financial transactions tax.
The Robin Hood Tax is big news in the UK, where it has 44,565 official supporters including celebrities from Richard Curtis to Sienna Miller. And of the three parties, writes O’Grady, it is the Liberal Democrats who look to be making the most out of that support, tapping into deep public anger about the City’s ways.
“The party has stepped up its attacks on the financial sector in recent weeks, with Mr Cable describing those who threatened to leave the UK in response to tougher regulation and higher taxes as ‘pin striped Scargills’,” he writes.
For more on the UK campaign, look out for our update on their April 10 Day of Action. To see what you can do to support this tax, look out for our upcoming e-action. And to read Sean O’Grady’s article in full at The Independent, click here.
