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PSI insists that there is no way of guaranteeing quality public services without discussing the issue of tax justice, given that both tax evasion and corruption – which are a constituent part of tax justice – are directly responsible for undermining the funds necessary for its existence.
Robin Hood Tax
PSI supports campaigns for tax justice such as the Financial Transaction Tax (FTT), commonly known as the Robin Hood tax, which aims at taxing international financial transactions and suggests that countries at global, regional or unilateral framework implement rates in currency markets, equities and derivatives.
Studies indicate that, if the FTT were to be applied worldwide, with rates of less than 1%, revenues could reach $ 1 trillion per year or the equivalent of 2% of the global GDP.
The campaign for the Robin Hood tax, launched in 2010, under the theme "Transforming banking crisis into an opportunity for the world", is coordinated by a coalition of over 50 organisations, including Christian Aid and UNICEF. The main objective behind the taxation on financial transactions is to raise funds to protect public services, tackle poverty and climate change.
Eleven EU countries are thinking of adopting it: Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovenia, Slovakia, Spain (with the possible entry of the Czech Republic and Croatia). If implemented, it is expected to raise annually the amount of 34 billion euros.