Just as the banks were reassuring us that some countries were on the path to recovery from the economic crisis, newspapers have started talking about a double-dip recession. That’s enough to cause panic in the banks once again. The global economic situation will doubtless be a subject of discussion at the United Nations Development Summit, to be held in New York on 20-22 September. The Summit will be reviewing progress on the Millennium Development Goals, the MDGs. There again, the news is not good. In the current circumstances, it is very unlikely that the MDGs will be met by the 2015 deadline.
Fortunately, there is one thing that can help, if put into place – a financial transactions tax (FTT). Of course, it would not cure all the world’s economic ills. But an FTT could raise between US$200-billion and US$900-billion. It would help put establish an economic base for social protection, and provide major funding to address poverty issues.
The International Trade Union Confederation (ITUC), to which PSI belongs, has submitted a statement to the UN Summit that sets out detailed policies and actions which would give a renewed impetus to meeting the MDGs. This includes trade union endorsement of a financial transactions tax.
I urge PSI affiliates to write to your governments now to inform them of the trade union position on an FTT, and send them a copy of the ITUC statement. The more we talk about the FTT, the more quickly it could become a reality.
See the ITUC statement here.
Fortunately, there is one thing that can help, if put into place – a financial transactions tax (FTT). Of course, it would not cure all the world’s economic ills. But an FTT could raise between US$200-billion and US$900-billion. It would help put establish an economic base for social protection, and provide major funding to address poverty issues.
The International Trade Union Confederation (ITUC), to which PSI belongs, has submitted a statement to the UN Summit that sets out detailed policies and actions which would give a renewed impetus to meeting the MDGs. This includes trade union endorsement of a financial transactions tax.
I urge PSI affiliates to write to your governments now to inform them of the trade union position on an FTT, and send them a copy of the ITUC statement. The more we talk about the FTT, the more quickly it could become a reality.
See the ITUC statement here.
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