Robin Hood Tax Campaign

I agree with the sentiment behind the ‘Robin Hood’ campaign.

That is why Conservatives have been calling for an internationally-agreed tax on banks, which could raise billions of pounds to fund domestic and international policies, including action to help the most vulnerable at home and abroad. The International Monetary Fund (IMF) is producing a report on what form such a tax might take. They are considering the practicality of a transaction tax, alongside other options like a levy, a form of which President Obama has proposed and the Swedish government has implemented.

I also agree that, in spite of other pressures on public spending caused by the recession, government spending on international development should continue to be a priority. We are therefore committed to increasing aid spending to 0.7% of GNI, because we believe that overseas aid can save lives, combat diseases such as malaria and HIV/AIDS, and help bring new jobs, universal education and other opportunities to people living in the poorest countries.

In addition, we recognise that climate change is already hitting some of the poorest people in the world, and urgent action is needed to cut emissions and help protect people from the impact of rising temperatures. David Cameron has made this a personal priority of his. We have signed up to the 10:10 campaign, and committed to cutting UK government emissions by 10% within 12 months of the general election. And as we have repeatedly stated, we also support international negotiations on new mechanisms to provide additional funding for this important issue.

You may be interested to know that the Conservative Shadow Chancellor George Osborne has met with the Robin Hood campaign in order to discuss our common objectives.