Faith groups welcome FTT proposal by European Commission

Members of the Faith Group of the Robin Hood Tax campaign welcomed Wednesday's announcement by European Commission president Barroso that the Commission has adopted a proposal to set-up a financial transaction tax (FTT) in the 27 member states of the European Union. However, the group is seriously concerned that the British government does not appear to be willing to sign up to these plans. We believe that for them to fail to do so undermines the whole project and urge our government to reconsider their stance.

Speaking on behalf of the Faith Group, the Revd Roberta Rominger, general secretary of the United Reformed Church, said: "This is positive news amidst all the economic gloom and turmoil in the EU region at the moment. As faith communities we urge the British Government and other partners in the G20 to follow the courageous and innovative step taken by the European Commission in seeking to implement a Financial Transaction Tax. This will be good for Britain, good for Europe, good for the world.

"The financial sector bears a huge responsibility for the current economic crisis and must make a fair contribution to help finance the massive deficits in EU member states. There is a moral imperative to use the Robin Hood Tax to fill the gap in urgently needed funding to tackle climate change and poverty at home and abroad. It's in everyone's interests to find new sources of finance to tackle these global challenges" she added. 

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