From: Nigel Stanley <NStanley@TUC.ORG.UK
Subject: [new-pol-econ] Financial Transactions Tax â urgent call for support
Reply-To:
new-political-economy-network@googlegroups.com
Trade Unions Congress
The TUC is involved with a high profile campaign for a financial transactions tax with a wide coalition of development, poverty and faith groups which is due to be launched in a few weeks time with some celebrity fairydust.
Importantly this is a real international campaign with a similar group coming together in the USA and working with existing coalitions in Europe.
One initiative that is taking place in the run-up to the launch is a letter to G20 leaders signed by a worldwide group of economists. The idea is to get some attention just before Davos.
I would very much welcome signatures from this group â and just as importantly - help with getting further signatures from colleagues. I am sure that you are members of other lists or know people who could sign.
Iâve put the list of those signing already (which includes members of this group) at the end of this email so that you can see there are some substantial figures on board.
The letter follows:
Dear G20
As economists from across the world, we call on you to implement a financial transaction
tax (FTT).
This tax is an idea that has come of age. The financial crisis has shown us the dangers of
unregulated finance, and the link between the financial sector and society has been
broken. It is time to fix this link and for the financial sector to give something back to
society.
Even at very low rates of 0.05% or less, this tax could raise hundreds of billions of
dollars annually and calm excessive speculation. The UK already levies a tax on share
transactions of 0.5%, or ten times this rate, without unduly impacting on the
competitiveness of the City of London.
This money is urgently needed. The crises of poverty and of climate change require an
historic transfer of billions of dollars from the rich world to the poor world, and this tax
would offer a clear way to help fund this.
Given the automation of payments, this tax is technically feasible. It is morally right. We
call on you to implement it as a matter of urgency.
Yours.
The campaign that is shortly to be launched will say that the proceeds of the tax should be split 50/50 between domestic and development/climate change, but this letter text has already gathered signatures both here and overseas.
Iâd be very grateful if you would let me know if you will sign â and help spread the word (or go viral as we comms people say).
Timing is tight. We havenât finally decided when it will be published, but a deadline of next Thursday Jan 28 would be a good bet, though weâre happy to receive further signatures later as we may be able to include them.
Nigel Stanley
Head of Campaigns and Communications
U.K.
> Prof. Sudhir Anand
> Professor of Economics, University of Oxford, visiting Professor,
> Harvard University
>
> Prof. Sir Tony Atkinson
> Professor of Economics, Cambridge University
>
> Emilios Avgouleas
> Professor, Law faculty, Manchester University (specialising in
> economic regulation and financial crises)
>
> Robert Chambers
> Research Associate, Institute of Development Studies
>
> Prof. Christopher Cramer
> Professor of the Political Economy of Development
> SOAS
>>
> Christopher Edwards
> Senior Fellow, University of East Anglia
>
> Geoff Harcourt
> Emeritus Reader in the History of Economic Theory, Cambridge;
> Emeritus Fellow, Jesus College, Cambridge;
> Professor Emeritus, Adelaide
>
> George Irvin
> Professor of Economics
> Univ of London, SOAS
>
> Rhys Jenkins
> Professor
> School of International Development
> University of East Anglia
>
> Dr Deborah Johnston
>> Dept of Economics, SOAS, UK
>
> Dennis Leech
> Professor of Economics
> University of Warwick
>>
> Julie Litchfield
> Senior Lecturer in Economics
>
> Judith Mehta
> Research Coordinator,
> ESRC Centre for Competition Policy,
> University of East Anglia, Norwich,
>
> Dr Lyla Metha
> Research Fellow, Institute of Developmemt Studies
>
> Machiko Nissanke
> Professor of Economics, SOAS
>
> Wendy Olsen
> Senior Lecturer in Socio-Economic Research,
> Univ. of Manchester
>
> Adrian Salbuchi
>>
> Malcolm Sawyer
> Professor of Economics, Leeds University
>
> Hubert Schmitz
> Professorial Fellow, Institute of Developmemnent Studies
>
> Rick van der Ploeg
> Professor of Economics
> University of Oxford
>
> Roberto Veneziani
> Senior Lecturer, Queen Mary University
>
> Philip J. Whyman
> Professor of Economics, University of Lancashire
>Edward Fullbrook
Real-World Economics Review
> USA
> Dean Baker
> Co-director, Centre for Economic and Policy Research, Washington D.C.
>
> STEPHANIE GRIFFITH JONES
> Financial Markets Program Director at the Initiative for Policy
> Dialogue at Columbia University
>
> ILENE GRABEL
> Professor of International Economics and Co-Director, Josef Korbel
> School of International Studies, University of Denver
>>
> Thomas Palley
> Schwartz Economic Growth Fellow
> New America Foundation
>
> Robert Pollin
> Professor of Economics, University of Massachusetts, Co-director of
> the Political Economy Research Institute
>
> DANI RODRICK
> Professor of International Political Economy at Harvard
>
> Prof. Jeffrey Sachs
> Director, Earth Institute, Columbia University
>
> PETER SINGER
> Ira W. DeCamp Professor of Bioethics
>
> Rudi von Arnin
> Assistant Professor of Economics | University of Utah
>
> Yavuz Yasar
> Assistant Professor
> Department of Economics, University of Denver
>
> Canada
> Dr. C.P. Barrington â Leigh
> Canadian Institute for Advanced Research
>>
> Robert Chernomas
> Professor, Department of Economics
> University of Manitoba
>
> Mel Cross
> President, Atlantic Canada Economics association
>
> Henryk Flakierski
> Professor of Economics and Social Science (emeritus), York
> University, Toronto,
>
> Dr. Ricardo Grinspun
> Professor of Economics, York University, Toronto
>
> Terry Heaps
> Professor, retired
> Department of Economics
> Simon Fraser University
> British Columbia
>
> Gerry Helleiner
> Professor Emeritus, Department of Economics, Distinguished Research
> Fellow, Munk Centre for International Studies, University of Toronto.
>
> Roderick Hill
> Andrew Jackson
> Chief Economist, Canadian Labour Congress , Canadian Centre for
> Policy Alternatives; School of Policy Studies, Queenâs University
>>
> Prof. Sir Richard Jolly
> Honorary Professor and Research Associate, co-director of the UN
> Intellectual History Project, former Assistant Secretary General of
> the UN.
>
> Stephen M. Law
> Ex-president, Atlantic Canada Economics Association, Canada
>
> Louis Lefeber
> Professor of Economics, York University
>
> Joan McFarland
> Professor of Economics, St. Thomas University
>
> Dr Rob Moir
> Dr Anthony Myatt
> Professor of Economics, University of New Brunswick
>
> Mel Watkins
> Professor Emeritus of Economics
> University of Toronto
> Toronto,
