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POLITICAL BRIEF





The political brief



Robin Hood Tax moves closer in some countries – but UK still dragging its feet



France and Germany have committed to introducing a financial transaction tax by the end of 2012 – an important step forward in trying to ensure that the banking sector pays for its contribution to the current global economic crisis. The French Government is planning to table a Bill in parliament proposing the introduction of the tax by the end of February. French President Nicolas Sarkozy has pledged to make France the first nation in Europe to introduce the levy – a tiny ‘Robin Hood’ tax on all international bankers’ transactions that could generate billions for essential public services.



Speaking last month, Mr Sarkozy said it was unacceptable that “financial transactions are the only transactions that are exempt from all taxation.”



German Chancellor Angela Merkel is also planning to go ahead with the adoption of a financial transaction tax by the end of 2012 and will be pressing partners in the European Union (EU) to agree to its introduction. Twenty-five of 27 EU nations are reportedly in favour of the tax.



The moves further isolate the UK Government with its steadfast refusal to contemplate the introduction of a transaction tax. The impact of the global financial crisis, in which the reckless actions of the banking sector played such a critical part, is now hitting millions of ordinary people hard, both in the UK and abroad. Essential public services are being cut or axed, thousands of jobs have been lost and young people are facing an uncertain start to their adult lives as a result of record levels of youth unemployment. That is why the Robin Hood Tax campaign, which the NASUWT is backing, was launched 18 months ago – to call on the banks to pay their fair share back to society in return for the damage they caused. The campaign calls for the introduction of a financial transaction tax – a tiny tax of just 0.05% – every time bankers place bets on stocks, bonds, derivatives and currency. It could generate £20 billion in the UK and hundreds of billions globally and represents a viable alternative to the massive programme of spending cuts currently causing so much pain. It could reduce the number of public sector job losses and give a vital boost to schools, universities and the NHS. In just four and a half days a Robin Hood Tax could raise enough money to avoid the Department for Education‘s (DfE’s) £359 million budget cut. In less than four days it could save services such as Connexions, which has been decimated by local authority funding cuts. And it could also raise enough money to help tackle poverty and climate change around the world. The tax would only apply to global financial transaction, not high street banking, and due to the electronic nature of the banking industry it would be relatively easy to collect.



Yet despite the weight of evidence, David Cameron continues to oppose the introduction of a transactions tax in the UK, claiming that it would damage efforts to boost the economy.



The Prime Minister has sought to claim that his Government has clamped down on the city, but shortly after announcing a new bank levy worth £2.5 billion, it revealed corporation tax would drop by 5%, thus giving back with one hand what it took with the other.



The public are clearly behind the Robin Hood Tax campaign, as polls suggest that over 80% of UK voters believe bankers should be made to pay for the damage their actions have caused the economy.



The NASUWT will be continuing to work with partners to press the UK Government to adopt a financial transaction tax and to ensure that ordinary people are not left to foot the bill for the bankers’ mistakes.



More information on the NASUWT’s support for the Robin Hood Tax campaign www.nasuwt.org.uk/RobinHoodTax or visit the Facebook page at www.facebook.com/RobinHoodTax





Trade union attack defeated



An attempt to attack trade union activists and their facilities time has been defeated in the House of Commons.



Last month the Conservatives attempted to introduce a private members bill which, if successful, could have resulted in trade unions being forced to reimburse employers for activists’ facilities time.



The bill was soundly defeated by 211 votes to 132.



This is the latest salvo in an ongoing attack on trade unions by the Coalition Government in response to the Union’s opposition to its programme of cuts and reforms which are destroying essential public services and deepening poverty and inequality.



The Conservatives have attempted to claim that facilities time is a drain on the taxpayer but, as was pointed out during the debate in the Commons, trade union representatives actually save the Exchequer millions of pounds each year by reducing the number of working days lost to illness and injury, cutting the number of employment tribunals and improving workers’ skills and productivity through the promotion of training and education.



Opposition MPs highlighted the important work undertaken by union representatives in negotiating with employers, dealing with grievances in the workplace and ensuring members’ working environments are safe and healthy. Much of this work is unpaid, the Commons heard, with a recent Government survey suggesting that representatives in the public sector contribute up to 100,000 unpaid hours each week to carry out their duties.



The defeat of this bill is an important victory but it is just the first wave of what is certain to be a much longer and more difficult campaign to defend trade union freedoms.





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