Budget response: Aid agencies call on Gov to back Robin Hood Tax
Australian aid agencies have welcomed the Budget 2010 for its boost in aid funding but have called on the government to stand up and be counted where it matters – by supporting the Robin Hood Tax.
The Rudd Government’s Budget 2010 delivered a half billion increase in aid funding this week, a move that was welcomed by major charity groups.
“At the current rate of increase, the Rudd Government is on track to reach its target of 0.5% of Gross National Income by 2015 and should now move quickly to announce a timetable for reaching the UN goal of 0.7% of GNI,” said Australian Council for International Development executive director, Marc Purcell.
Mr Purcell noted, however, that fundraising models for issues such as climate change – a key goal of the Robin Hood Tax – were not addressed in the 2010 Budget.
“Innovative sources of funding for adaptation for climate change are not considered in the budget,” Mr Purcell said.
“The G20 is considering a tax on international currency transactions – the ‘Robin Hood Tax’. Australia needs to drop its resistance to this measure and move with other G20 countries to adopt better financing mechanisms to assist vulnerable communities around the world.”
The Make Poverty History group also called out to the government to up its commitment to Robin Hood.
“Make Poverty History calls on the government to make a timetabled commitment to the international standard of 0.7% GNI for overseas aid and supports innovative financing initiatives like the Robin Hood Tax, a tiny tax on financial institutions that would provide billions to tackle global poverty and climate change,” a press statement read.
“With 1.4 billion people still in extreme poverty and just five years to go to achieve the Millennium Development Goals by 2015, Australia has a long way to go to do its fair share. Every minute will count to save the lives of the poor.”
