Campaigners for a new Robin Hood tax have made their case to East Midlands Labour MEP Glenis Willmott in Brussels this week.
Charities including Oxfam and Friends of the Earth are calling for the tax, which would place a levy on the international operations of big banks. Labour MEPs have backed the idea of a small charge, something which is currently being discussed by world leaders.
The idea is for the money raised to be used to support public services and to help tackle global poverty and climate change.
Campaigners brought their message to the European Parliament on Thursday morning (25 March) ahead of an EU summit in Brussels.
Welcoming the campaigners, Glenis Willmott said: “This tax would only affect really big transactions made by international financiers. It would be a small charge on any individual deal, yet the overall amounts involved are staggering and could make a real difference.
“The recent economic crisis was a global event. An international transaction tax would reduce volatile and risky financial speculation while raising billions to help tackle climate change and help developing countries who have been hit hardest by the crisis.
“I’ve already been contacted by many of my constituents in the East Midlands, asking me to support the Robin Hood tax campaign and it’s great to see the message being taken out to politicians from across the EU.
“It’s time for global action to ensure that international finance pays its fair share.”