Robin Hood Tax March & Festival

Submitted by edg on Thu, 27 Oct '11 9.03pm
Time & place

Occupy Edinburgh continues to camp out in St Andrew Square, the heart of Edinburgh's historic financial district. Participants are acting out of solidarity with the global Occupy movement which is seeking action on the iniquities caused by the bank bailouts and to stop the financial and ecological debt that is being diverted onto future generations.

The Occupy movement - which operates on a consensus building model - has been been criticised for not having any clear demands. In answer to its critics, today, people from many cities will be marching for a Robin Hood Tax - taking from the rich and giving to the poor - on financial transactions such as stocks, bonds, foreign currency transactions, and derivatives.

Also known as a Financial Transaction Tax (FTT), it would see a tiny fraction of each transaction raised in tax and the billions of pounds collected would be used to fight poverty and climate change.

The Robin Hood Tax web site recommends a 0.05% tax and spending:

  • 50% to fight poverty in the UK
  • 25% to fight poverty in developing countries
  • 25% to fight climate change at home and abroad

The march will begin at 12 noon on St Andrew Square, will take a circuit of Central Edinburgh and return back to the Square.

The Festival/Gathering will begin at 1pm and will also take place on St Andrew Square.

The Festival/Gathering will have workshops, arts, speeches and live music throughout the day as well as free food and drink.