Greens! call for Robin Hood Tax


The Green Party is supporting a campaign to get councils to pass a motion of support for the Robin Hood Tax.

The Robin Hood Tax – or Financial Transaction Tax (FTT) is a tiny tax of about 0.05% on transactions made by banks, hedge funds and the financial sector. The tax could raise £250 billion a year globally, with some of the money being used to support council services that have been decimated by government cuts. Another advantage of an FTT is that it helps reduce the number of risky financial transactions, the gambling which helped to trigger the financial crisis.

The Green Party is urging people to take an easy action by writing to their local councillors asking them to pass a motion supporting the FTT, almost 40 councils have already passed such a motion. 

Professor Molly Scott Cato, who is the Green Party’s finance spokesperson and a leading European candidate said: “The Green group in the European Parliament has been instrumental in pushing for a FTT.

Eleven Member States including Germany, France, Italy and Spain have decided to put people before the profits of their big banks and financial speculators and Introduce a Financial Transaction Tax.

The UK Government on the other hand has continued to block the Financial Transaction Tax in order to protect their Friends in the City.”

Dr Scott Cato  concluded: “I will be proposing a motion of support for an FTT in February. I want our council and other councils across the South West and beyond to send a clear message to the government that Robin Hood wants finance to work for the common good, not the vested interests of the few!”

Further information on the Financial Transaction Tax from the Robin Hood campaign:  

Capping the CAP

A new report from the South West Green Party exposes the fact that massive payments to large corporations are being made under the Common Agricultural Policy (CAP). Analysis of Defra data by the Green Party on CAP payments has revealed that sizeable sums of money are being diverted away from smaller farms towards large corporations.

In particular, the Green Party points to a payment of nearly £2 million last year to Serco Regional Services for ‘supporting a step change in the international performance of companies in Cornwall and the Isles of Scilly’. The Serco Group is currently the subject of a criminal investigation following allegations they billed the Ministry of Justice for monitoring 3,000 non-existent offenders on a lucrative electronic tagging contract. [1]

Professor Molly Scott Cato, lead Green Party European candidate in the South West and the Party’s finance speaker, said:

“The public might be somewhat surprised or even shocked by the fact that huge amounts of EU funds, portrayed as supporting rural agricultural incomes, are in fact being directed towards public bodies and dubious corporations such as Serco. This amounts to nothing less than corporate welfare.” Continue reading