Newsletter : May 2011

Bank Breaks Ranks to Implement Currency Tax


Dear Supporter,

Generosity is not a word often associated with the financial sector (except perhaps for the dubious exception of banker bonuses), so it is with great delight that we report this month on a French bank's initiative to implement their own currency transaction tax for development. It proves such a step is technically feasible and hints at what could be achieved if Governments followed suit and taxed the financial sector more.

The theme of generosity is continued as we report on renowned street-art collective Mutate Britain's anti-greed art giveaway that happened in the heart of the City, much to the surprise of passing bankers.

Finally, there is a powerful new action we'd like you to take in support of the campaign. Please spend a few moments carrying out this urgent action. Thank you!


The Stamp out Poverty Team

French bank first to implement currency tax

The French bank Credit Cooperatif recently broke ranks to become the first French bank to implement a Currency Transaction Tax. At a rate of 0.01% the levy will raise 100,000 Euro a year with all proceeds going directly to international development. It is an important precedent in the prevailing climate in Europe to move beyond rhetoric to implementation.

Anti-greed giveaway in the banking heartland

300 original pieces of artwork by renowned Mutate Britain artist Peter Dunne were given away for free as part of an anti-greed giveaway in the heart of London’s square mile. The event was organised in support of the Robin Hood Tax campaign and white-gloved gallery assistants ensured passing bankers and members of the public received a free piece of art, each carrying a personal message from people across the UK who have been profoundly affected by the behaviour of the banks.

Help us to reach every politician in the country with our brand new MP-ometer

MPs have told us that personal, locally relevant messages are far more powerful than template emails. With this in mind a new innovative action from the Robin Hood Tax Campaign is a little different to usual. It’s still incredibly simple, but with your help we hope to reach every MP in the country with personalised emails from their electorate, all united in calling for a Robin Hood Tax.

Robin's Road Trip

A series of videos on the Guardian website tells the story of the Robin Hood road trip which set out a month ago to discover what the banks have done to Britain. Celebrities such as Bill Nighy and Caroline Lucas joined people from grassroots projects such as food banks and Sure Start centres to talk about how the banking sector's behaviour and the govnernment cuts are profoundly affecting their lives. You can watch the videos here: