Government asked “how can we raise more money?”
We said…”A financial transaction tax of course!”
The Robin Hood Tax Coalition made a comprehensive submission to the Department of Climate Change and Energy Efficiency at the end of January on ways in which we can raise funds to meet our obligations for assisting developing countries with climate change. A financial transaction tax (aka Robin Hood Tax) is one of the very few options for raising new and additional funds for climate change – as well as for other areas of under-resources social spending such as education, health and environmental conservation. A conservative estimate of the amount of money a 0.05% tax on financial transactions in Australia could yield AU$16 billion each year. And this is factoring in a two-thirds reduction in trade!
Read the Robin Hood Tax submission on international climate finance
