Robin Hood Tax – the Saving Challenge

12 08 2010

Robin Hood Tax. Way more popular than Kevin Costner.

In the wake of the government’s calamitous Spending Challenge, the Robin Hood Tax campaign has launched its own ‘Saving Challenge’ to build momentum for a tax on banks, potentially worth up to £20bn.

The campaign, which has launched an e-petition, says: ‘Unlike the Government’s Spending Challenge we want a debate that includes all the possible solutions.

‘As George Osborne says on the Spending Challenge site, there are indeed “tough decisions that need to be made”. But there’s one big decision that could spare us an awful lot of the most damaging ones.’

The campaign is taking suggestions on the most important spending priorities – education has so far proved popular – and is collating people’s ideas into a daily blog. A full report will be produced at the end of August and presented to the government.

For the uninitiated, a Robin Hood Tax would apply a small levy on banks’ speculative transactions to raise money for vital services. More here.

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