ITUC: Endorse Financial Transactions Tax to help fund development and growth.
20 Aug 2010
"A financial transactions tax is good economic sense, justice and equity"
The International Trade Union Confederation (ITUC) is calling on governments to commit to introducing a financial transactions tax (FTT) at September's United Nations Development Summit to help tackle global poverty and accelerate action on jobs and climate change.
The UN Summit, to review progress on the Millennium Development Goals (MDGs), will take place against a background of growing global unemployment and inequality and major set-backs on economic development in countries across the globe.
"The global economic crisis continues to hit hard, with 200 million more people falling into absolute poverty since 2008, millions of young people with little or no hope of finding work, and women in particular being squeezed out of employment. The recession may be over for banks and finance, but the outlook for employment and for vital public services is bleak as governments cut spending in order to satisfy the money markets. A financial transactions tax not only makes good economic sense - it is also a matter of justice and equity," said ITUC General Secretary Sharan Burrow.
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