07 November 2011

Innovative mechanisms to finance development are urgently needed to ensure that poverty will be eradicated.

We believe that, if rightly implemented, the FTT can have several positive effects in regard to global challenges. It can be an important source to finance the closely related fights against poverty and climate change, it will reduce speculation and stabilize financial markets and it will introduce a fairer burden sharing between the financial sector and the average tax payer.

While there has been a welcomed shift in the discussion from whether to how a FTT can be put in practice, mainly thanks to developments in the European Union, the necessary political will for its implementation is still lacking. Thus, the CIDSE network addresses national governments, the EU institutions as well as international forums like the G20 to push for a Financial Transaction Tax which finances global challenges including development and climate change.

Financial Transaction Tax RESOURCES

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