Stamp Out Poverty Campaign : Action Update - August 2006

More than $1 billion in innovative finance to be generated in coming year

Progress with innovative development finance is accelerating apace as three ‘pilot’ projects will shortly be launched raising more than $1 billion over the next 12 months. The three initiatives are the Air Ticket Levy to pay for HIV/AIDS, Malaria and Tuberculosis treatment, the International Finance Facility for Immunisation, and a Global Lottery to raise funds for the UN World Food Programme.

Stamp Out Poverty may justly claim some credit for playing our part in helping to open up the political space that has led to these developments. Yet these initiatives are just the beginning – an indication of the tremendous potential of innovative sources of development finance. Much more needs to be done, not least the achievement of a sterling stamp duty, which would raise as much as these three pilot schemes combined.

To find out more, read our recent press release by clicking here.

URGENT ACTION * **URGENT ACTION * ** URGENT ACTION

Time for the Treasury to put their money where their mouth is

The money raised through the Air Ticket Levy is going to be channelled into the new International Drug Purchase Facility (IDPF), which will be used to pay for life-saving HIV/AIDS, Malaria and Tuberculosis treatment in the world’s poorest countries. As yet, the UK government has made no financial commitment to this initiative, even though it has frequently pledged its support in the past.

With the IDPF to be launched at the UN General Assembly in mid-September, it is urgent that the UK honours its pledge and plays an active part in this first internationally coordinated tax specifically dedicated to fighting poverty.

TAKE ACTION NOW by sending a quick email to Gordon Brown, demanding that the UK puts its money where its mouth is and commits a portion of the money raised from its Air Passenger Duty to the International Drug Purchase Facility. Click here, to take this action.

URGENT ACTION * **URGENT ACTION * ** URGENT ACTION

International momentum continues as France hands baton to Brazil

On 6 July, a major conference on ‘Innovative Financing for Development’ opened in Brasilia as a follow up to the Ministerial Meeting in Paris, in February, where the first ‘Development Tax’ – the Air Ticket Levy – was agreed.

As lead speaker on the panel on financial transaction taxes, the Stamp Out Poverty Coordinator challenged the countries present to seize the day and pilot the Currency Transaction Tax (CTT). To find out more about the conference and progress with the Air Ticket Levy, the other pilot projects and the CTT, click here.