The SNP candidate for Glasgow Central has backed a new tax on banks which would raise hundreds of billions of pounds for the fights against poverty and climate change both at home and abroad.
Called the Robin Hood Tax, the proposal has been backed by a multitude of NGOs, trade unions and faith groups. It would work by levying a tiny 0.05% charge on speculative banking transactions, which doesn’t affect personal accounts.
Osama Saeed commented that the Robin Hood Tax would represent a new deal for the public and hoped it would feature in this week's Budget:
“This tax would fundamentally recalibrate the relationship between society and the banks. What we’re talking about is a tiny tax which would have a massive impact on progressive causes.
“It would also raise large amounts of money at a time when Labour and the Tories are talking up savage cuts in public spending.
"I hope that the chancellor will announce the first steps towards this in Wednesday's budget. He must not say there needs to be a global agreement first as this can be initiated here and now.
“All the organisations involved in the Robin Hood Tax have been running a really strong campaign. I hope it’s successful and I will do everything in my power to help make it so too.”
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- More information can be found at www.robinhoodtax.org.uk
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