Email the Prime Minister before it’s too late



Email the Deputy Prime Minister before it’s too late On 26th June the Treasurer and now Deputy Prime Minister Wayne Swan will attend the G20 Leaders Meeting in Toronto where proposals for a financial contribution to society by the global banking and finance sector will be discussed. Of all the proposals on the table, the Robin Hood Tax is the only tax which both dissuades some of the excesses of the finance sector, and makes a significant contribution to society. All other proposals are focused instead on simply recouping the direct costs of bail-outs or providing a money pot for future financial crises. The Robin Hood Tax is an historic opportunity to leverage a tiny tax on short-term speculative trading to both improve the finance sector and make a giant change to people's lives, and our planet, in this lifetime. We want Deputy Prime Minister Wayne Swan to back this tiny tax on financial transactions that will bolster public services, reduce global poverty and help tackle climate change. According to the IMF, the strong public campaign was responsible for keeping the Robin Hood Tax on the table. But, without continuing support, this crucial tax could be pushed aside at the G20 Leaders Meeting in Toronto. It is vital we act now. What you can do Add your voice to the growing global movement supporting the Robin Hood Tax. Write to the Deputy Prime Minister today. We've got a letter ready that you can use, or you can write your own message. Show Wayne Swan that you want Australia to lead the world in championing global financial reform. Show him we want him to take this historic opportunity to create a better world. SEND NOW – IT TAKES LESS THAN ONE MINUTE! 1. Write letter 2. Review 3. Send
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Your Letter:
Dear Mr Swan, I am writing to ask you to support the Robin Hood Tax at the G20 Leaders' Meeting in Toronto on June 26. The Robin Hood Tax is the tiny tax of 0.05% on all financial transactions, with proceeds directed towards domestic public goods, global poverty alleviation and the costs of climate change adaptation. The last few weeks have seen renewed trouble in the global economy, with governments and international institutions moving to further assist troubled financial institutions. On the other hand, recent media reports have suggested that big Australian banks have even profited from the financial downturn, through charging borrowers more than the increase in their costs. These events highlight the importance of sustainable public finances, and demonstrate that now is the time for the finance sector to make a fair and substantial contribution towards righting the damage ?caused by the global financial crisis and making the world a better, fairer and more sustainable place. The Robin Hood Tax can raise ?substantial amounts from the finance sector to reduce global poverty, tackle climate change and bolster public ?services.? I know that the IMF has proposed alternative taxation mechanisms to the Robin Hood Tax, which include a form of bank levy and a tax on bank profits and remuneration. The reality is that the Robin Hood Tax is far superior to the other proposals on the table. A bank levy, for example, has been estimated to raise no more than about US$30 billion a year globally. The predicted revenue of a Robin Hood Tax is a far greater US$400 billion per year, and between AUD$6-18 billion a year in Australia. Further, as many prominent economists and finance specialists have continued to argue, a Robin Hood Tax is the only proposal on the table that will actually decrease the risk of a further crisis. By targeting the non-productive, high frequency trading that contributed to global instability, the Robin Hood Tax addresses the root of the problems in the global finance sector. The other proposals simply do not. G20 leaders this year have an unprecedented opportunity to create a new source of financing for poverty alleviation and climate change adaptation along with funding key domestic infrastructure priorities. Some leaders have commented that a financial sector contribution should simply be used as insurance for a future financial crisis. This suggestion fails to capitalise on the tremendous opportunity presented by the Robin Hood Tax, to both create a sustainable source of innovative financing for global needs and target unproductive market behavior. In stark contrast to many OECD members, the strength of Australia's economy and history of strict financial regulation presents an unparalleled opportunity for Australia to position itself as a world leader in championing global financial reform and support a Robin Hood Tax. I urge you to support this initiative at the forthcoming G20 summit. Yours sincerely,