Over the last few months, more and more prominent figures have declared their support for a Robin Hood Tax on financial transactions. Here's what just a few of them have to say.
To hear from more supporters, visit the Robin Hood Tax website.
Thinkers
Al Gore, former U.S. Vice President
We need policy changes, we need a tax on carbon and we need a tax on global transactions.
Rowan Williams, Archbishop of Canterbury
The objections made by some [to the financial transaction tax (FTT)]... seem to rest on exaggerated and sharply challenged projections – and, more important, ignore the potential of such a tax to stabilise currency markets in a way to boost rather than damage the real economy.
Economists and Business Leaders
Bill Gates, Chairman of Microsoft
It is very plausible that certain kinds of FTTs could work. I am lending some credibility to that. This money could be well spent and make a difference.
Jeffrey Sachs, Economist and Director of the Earth Institute at Columbia University
The Financial Transactions Tax is a solid idea that has been resisted by Wall Street for years.
George Soros, Soros Fund Management and Open Society Institute
The globalization of financial markets has given financial capital an unfair advantage over other sources of taxation. A tax on financial transactions would redress the balance.
Joseph Stiglitz, Economist and Nobel Laureate
The financial sector polluted the global economy with toxic assets and now they ought to clean it out.
Political and Government Leaders
José Manuel Barroso, President of the European Commission
It's a question of fairness... It is time for the financial sector to make a contribution back to society.
Christine Lagarde, Managing Director of the International Monetary Fund
I persist in thinking we should explore this idea and examine how realistic and how feasible it is and do this on an international basis.
Nicolas Sarkozy, President of France
We won't wait for others to agree to put it in place, we'll do it because we believe in it... [It is unacceptable that] financial transactions are the only transactions that are exempt from all taxation.
Adair Turner, Chairman of the Financial Services Authority
If you want to stop excessive pay in a swollen financial sector you have to reduce the size of that sector or apply special taxes to its pre-remuneration profit.
