Robin Hood

I have added my support to the campaign for a Robin Hood tax or financial transaction tax. This campaign, involving charities such as Oxfam and Friends of the Earth is calling for a tiny levy to be placed on the international operations of big banks.

The idea is that the money raised would be used to support public services and help tackle global poverty and climate change.

As Leader of Labours’ MEPs, I have backed the idea of a levy on international financial transactions, and the need for this to be a global agreement. I know this is currently being discussed among world leaders, with Gordon Brown taking a leading role, having already put it on the G20 agenda last November.

It really is time for the banks and international finance institutions to make amends for their role in the global economic crisis, to take social responsibility and start paying their fair share.

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