Robin Hood tax idea on big business takes European lead

AN INTERNATIONAL movement to implement a "Robin Hood" tax on big business arrives in Coffs Harbour next week, with the NSW Nurses and Midwives Association calling for reform.

Following a launch in Sydney's Circular Quay earlier this year - while G20 and Central Bank governors met at a venue nearby - NSWNMA has hit the road with its campaign to bring the Financial Transaction Tax (FTT) to Australia.

The FTT would see a 0.05% levy on the trading of financial transactions such as stocks, bonds, derivatives, futures, options and credit default swaps, raising billions of dollars a year for services which are seeing a decrease in government spending.

NSWMNA assistant general secretary Judith Kiedja said the tax would be levied on very specific financial transactions, not the everyday consumer.

"An FTT would give Australia many billions of dollars more each year to properly fund public services like health and aged care and schools," Ms Kiedja said.

Nine European countries including France, Germany and Spain have already agreed to implement the tax.

NSWNMA will hold an event at the Coffs Harbour Ex Services Club on November 9 from 6pm.

For further information contact NSWNMA on 8595 2153.



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