Newsletter: November 2012

Dear supporter,

We bring great news, at least 11 European countries – including Europe’s biggest economies Germany, France, Italy and Spain – are set to implement an FTT in 2013. What a way to end the year!

This would raise an additional €37 billion annually. The fight is on to make sure as much of it goes to combating poverty and climate change as possible.

In the meantime, France took the lead by introducing its own FTT on share trading which will raise €1.6 billion a year. President Hollande has committed to spending 10% of the revenues on tackling poverty and climate change abroad. We think this percentage is too low and must fight to get it increased.

You can read all about the European progress in our autumn newsletter and also enjoy a hilarious new Robin Hood Tax campaign film courtesy of our German colleagues.

The Stamp Out Poverty Team

11 European countries move closer to implementing an FTT

Things are moving fast in Europe. 11 countries – including Europe’s 4 largest economies – have now written to the European Commission requesting to implement an FTT under the ‘Enhanced Cooperation Procedure’ (ECP). This passes the nine-country threshold needed to initiate the ECP, meaning this group of progressive countries can now move towards implementation. Austria, Belgium, Estonia, Germany, Greece, France, Italy, Portugal, Spain, Slovakia and Slovenia will introduce a broad-based FTT covering shares, bonds and derivatives next year which will raise an estimated €37 billion annually.

France starts collecting revenues from its unilateral FTT and allocates part to helping the most vulnerable in developing countries

On November 1st a 0.2% tax on share trading in France came into effect. The tax will raise €1.6 billion in much needed new revenue every year. France seems to have set a trend, as Italy and Portugal have also announced plans to implement their own FTT. President Hollande has agreed to commit 10% of the revenue to helping fight poverty, HIV/Aids and tackle the adverse effects of climate change in the world’s poorest countries. Whilst we welcome using revenues in this way, we are continuing to fight for at least 50% to be spent internationally and that France uses all its diplomatic powers to persuade its European partners to do the same.

‘Difficult Labour’ – entertaining new Robin Hood Tax film

Oxfam Germany has released a brilliant new video in support of a Robin Hood Tax.

Germany is one of the 11 European countries set to implement the Financial Transaction Tax in 2013 which would between them raise €37 billion in new revenue every year.

This funny, entertaining video suggests just how painless the process will be….

Newsletter : August 2012 Update

What a summer for the campaign

Dear Supporter

Fantastic news:

At the end of June, 9 European countries agreed to push ahead and implement a Financial Transaction Tax (FTT) by the end of the year. The tax will help curb the speculation which has been blamed for contributing towards the financial crisis and raise £26.8bn in new revenue to help fund domestic and international social priorities.  Just this week France took an initial step by introducing a 0.2% levy on share trading of leading French companies. The tax is expected to raise around half a billion euros a year and President Hollande has indicated that part of the revenue will be used to fight global poverty and HIV/Aids.

You can read all about the progress in Europe in our summer newsletter, along with the sensational news that 50 leading financial sector professionals have broken ranks to come out in support of the FTT.

Finally, find out how Stamp Out Poverty’s Director, David Hillman, was mistaken for Peter Pan when he ran the London 10k run to raise money for the Robin Hood Tax campaign.

Wishing you happy summer holidays!

The Stamp Out Poverty team

A group of 9 European countries agree to push ahead with a Robin Hood Tax

This June a coalition of willing countries agreed to press ahead with plans for a European Financial Transaction Tax (FTT). Read the full story here

Big win as France introduces its very own Robin Hood Tax

The tax is expected to raise around half a billion euros and President Hollande has indicated that part of the revenue will be used to fight global poverty and HIV/Aids

Financial Professionals break rank and support a Financial Transaction Tax (FTT)

In an important and ground-breaking move, over 50 finance industry professionals wrote a joint letter to world leaders calling for an FTT

Dave and Max’s excellent Robin Hood adventure

Find out how Stamp Out Poverty’s Director, David Hillman, got on when he ran the London 10K run to raise money for the Robin Hood Tax campaign

Newsletter : June 2012 Update

Dear Supporter,

This month is set to be very important for the FTT campaign as we expect a key decision on 22nd June at the European Finance Ministers meeting.

Over recent weeks the campaign has achieved significant successes. You can read about them below.

As well, Stamp Out Poverty's Director Dave Hillman is taking part in the London 10k run on the 8th July to raise vital funds for the Robin Hood Tax campaign. You can read more about it and find out how to sponsor him in this month's newsletter.

The Stamp Out Poverty team 


Key development set to happen this month!

June 22nd is set to be a key decision making moment for the FTT campaign, when European Finance Ministers meet. Here’s why…

Running for Robin

On Sunday 8th July, Dave will be running for Robin, complete with green tights, at the British 10k run in London.

Please support him as generously as you can.

Newsletter : April 2012

Europe steps up efforts to implement a Financial Transaction Tax

Dear Stamp Out Poverty Supporter

The campaign for a Financial Transaction Tax (FTT) has had an encouraging few months as a group of European countries have been pushing ahead and could implement the tax as early as next year. Read more about the progress and our achievements in the article below.

We’ve also been busy with some exciting campaign activities. Whilst ordinary citizens are paying the costs of the financial crisis with cuts to public services and jobs, Barclays bank has continued to hand out excessive bonuses and remunerations to its top Executives.  So last week we headed to the Barclays annual shareholder meeting to make our voice heard.

We also share our recent ‘FTT: Myth-Busting’ report. This really useful and informative paper addresses all common ‘myths’ about the tax and shows how an FTT would be good for economic growth and help generate thousands of jobs.


The Stamp Out Poverty team

Nurses Vs Bankers at the Barclays annual meeting

New figures show that UK taxpayers effectively subsidise the pay of each and every investment banker at Barclays to the tune of £420,000 a year – an amount that could pay the annual salaries of 17 nurses.

Cameron and Osborne become more isolated opposing the FTT whilst Europe marches on

Since the European Commission (EC) tabled its draft legislation for an EU wide FTT in 2011, a group of 9 countries (Austria, Belgium, Finland, France, Germany, Greece, Italy, Portugal and Spain) have been pushing ahead and could implement an FTT as early as next year.

Financial Transaction Tax: Myth Busting

Stamp Out Poverty have created an extremely useful ‘FTT Myth-Busting’ paper which covers 12 common ‘myths’ concerning the impact of the FTT which continue to be peddled by our opponents. All of which can be shown to be false.

Newsletter : November 2011

Success to a point at the G20

Dear Supporter,

Great news! The G20 Summit in Cannes saw the emergence of a coalition of willing countries in support of the Robin Hood Tax including France, Germany, South Africa, Argentina and Brazil. The financial transaction tax (FTT) was specifically named in the G20 communiqué, which counts as a considerable success because some countries are still opposed. However, despite progress no extra money has yet been raised.  Now is a crucial time to keep up the campaigning and especially to lobby the UK government.

From a flash-mob of semi-undressed Robin Hoods protesting in Nice to an action against tax havens at the Monaco border, the Alternative G20 clearly put forward the message that governments need to prioritise the public over the financial elite.

Bill Nighy, a long-standing advocate of the Robin Hood Tax campaign, also took our agenda all the way to Cannes with the help of some heroic nurses.

The Stamp out Poverty blog has recently been launched and contains the most up-to-date information surrounding FTT issues, as well as what the team have been up to. It is available here:, and will soon be up on the website too.

Thank you and enjoy,

The Stamp out Poverty Team.

G20 Alternative Summit

The crowd present at the Alternative Summit was international and diverse – formed from activists and campaigners from around the world, mainly protesting about the links between the debt in the global south and the adverse effects that this is having on people everywhere from London to sub-Saharan Africa…

Bill Nighy supports the Robin Hood Tax in Cannes

Bill Nighy, a long-standing advocate of the Robin Hood Tax campaign, took our agenda all the way to the G20 in Cannes. The other Bill (Gates) also presented his excellent report advocating a Robin Hood Tax to G20 leaders as the solution needed in order to raise much needed revenue to meet the Millennium Development Goals…

Tax havens: 1% haven, 99% haven’t

Location: Cap, D’Ail, French-Monaco border

Purpose: Protest in favour of regulating tax havens – taxes are a social contract with society and by allowing companies to ‘creatively’ avoid them we are pushing developing countries further into poverty…

And finally, check out the brilliant FTT rap by MC Moneypenny ‘Tap Dat A$$et’ shot at Occupy Wall Street in New York.

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:

Newsletter : March 2011

Europe backs Financial Transaction Tax

Dear Supporter,

Our lead story in this update makes a pretty astonishing read. France and Germany are now pushing for a Europe-wide Financial Transaction Tax – imagine that happening even 18 months ago?! The real breakthrough came when the European Parliament resolved to press ahead without waiting for global agreement which makes progress this year far more possible.

Here in the UK there are two important events taking place in the next few days that we hope you can attend – a Robin Hood tax debate in St Paul's with BBC Presenter Evan Davis and the HUGE march being organised by the TUC in response to the cuts.

Happy reading…

The Stamp Out Poverty team

Europe backs Financial Transaction Tax

President Sarkozy and Chancellor Merkel are calling for a FTT. The European Parliament voted in favour. Never before have we witnessed such high level support and it’s a game changing moment for the fortunes of the FTT that has risen so remarkably up the political agenda in Europe over the past few weeks.

March for the alternative to the cuts

Play your part and join hundreds of thousands of others in London this 26 March as we show the government there is an alternative to the cuts. The Stamp Out Poverty team will be going along so come and join us to make the case that the financial sector can and should pay their fair share.

St Paul’s event: should we bank on a Robin Hood Tax?

Join BBC presenter Evan Davis and a distinguished panel on 29 March for a debate at St Paul’s Cathedral asking if the financial sector has a moral responsibility to contribute to the common good and be subject to a Robin Hood Tax?

‘Better FX’ toolkit launched

Stamp Out Poverty launched the ‘Better FX’ report in conjunction with the Charity Finance Directors’ Group. Designed as a best practice toolkit, it identifies how the charity sector could make sector-wide savings of 20-50 million pounds a year by improving their procurement of foreign exchange.

Newsletter : December 2010

A fitting end to an incredible year


Dear Supporter, 

2010 has undoubtedly been the most important ever year in Stamp Out Poverty's history. The question being asked by the public and politicians is no longer if we should tax the financial sector, but how and by how much. The Robin Hood Tax campaign launched in February and has been at the heart of this debate. Our message has reached millions, and spurred on by unlikely advocates such as the IMF, governments have started to act.

So what’s going to happen in 2011? You can read our analysis below, but before you do, please take part in our quick yuletide action. We’re hoping to persuade the UK’s top bankers to join in with the Christmas spirit and pay their fair share.

Thank you for playing your part in what has been an incredible year. Have a very merry Christmas and happy New Year,

The Stamp Out Poverty team


Send your Santa letter to the bankers

Bankers are set to receive more than GBP10 billion in bonuses this year, yet around the world ordinary people are paying the price for a crisis they did nothing to cause. Send your Santa letters to the bankers and ask them to pay their fair share and make poverty overseas and in the UK a ghost of Christmas past.

What does 2011 have in store?

Public anger towards the banks remains high. Campaigns in dozens of countries have brought together millions of people asking that the financial sector pay more. 2011 will be a crunch year for turning popular momentum into political reality – but what can we expect from governments around the world?

Top Fact of 2010:

We have always known that the trade in currency trumps all others as the biggest market in the world. But the latest figures show that whilst the rest of the economy has taken a nosedive the average turnover of the foreign exchange market has gone up to an incredible $4.0 trillion a day. That’s a rise of 20% from trading levels seen in 2007. In these austere times what more evidence do governments need that it is time to tap the unrivalled riches of the currency markets.

Newsletter : October 2010


Get your MP along to key event in Parliament

Dear Supporter,

Robin Hood is going back to the Palace of Westminster. Since our last visit in February there have been two budgets and a general election. Now, some of our champion Robin Hood Tax MPs have organised another briefing day for faces new and old to hear all about this great idea. At a parliamentary event on October 11th, there will be rousing speeches, policy experts on hand and a guest appearance from actor, Bill Nighy. We need as many MPs there as possible and we need you, as a constituent, to tell them to attend.

Please do this 1-minute action by clicking the link:

The new UK coalition government has agreed to tax the banks – partly thanks to your campaigning. The question is how much and what for? The financial crisis is hitting the poorest hardest and with the reality of the cuts in the UK, the Robin Hood Tax offers a new innovative source of financing to save jobs and meet development and climate change commitments.

We have a new parliament. We have new opportunities. Let’s make them count. Please get your MP along to this event:


The Stamp Out Poverty team

Newsletter : June 2010

Osborne’s bank tax: will it hit the mark?

Stamp Out Poverty continues to play a lead role in the Robin Hood Tax campaign. Over 175,000 people have joined our Facebook group and more than a million have seen our videos.

With George Osborne set to announce the emergency Budget on 22 June we have taken over the billboards in Westminster tube station to send our message loud and clear to the new coalition government:

Tax rises such as VAT are regressive and will hit the poorest hardest. Having already committed to a bank tax, the government must now live up to its progressive rhetoric by ensuring this raises £20bn a year to help fight poverty and climate change at home and abroad.

New Chancellor faces big decisions

Whilst MPs will see our billboards on their way to work, we want your messages to be waiting for George when he opens his inbox. With only a few days to go until the emergency Budget there is still all to play for. Please take part in our 2 minute e-action.

Tights, Camera, Action

Sienna Miller introduces the competition to create your own bankbuster 60-90 sec film for the Robin Hood Tax campaign. Director Richard Curtis, who is one of the competition judges, said: “We are looking for original and creative films that sell the idea of the Robin Hood Tax in new and exciting ways.” Click above to watch the video…

20 billion pounds more from UK financial sector possible

The Institute for Public Policy Research has published a new report that outlines how the UK financial sector can afford to pay 20 billion pounds in additional taxes. Such a move would be ‘progressive’ – falling on those most able to pay. This is in sharp contrast to a rise in VAT, widely predicted to be included in this month’s Budget, which is a ‘regressive’ measure that will hit the poorest hardest.