June 8, 2012
The Right Hon. Stephen J. Harper, P.C., B.A., M.A. House of Commons.
Dear Prime Minister Harper,
We wish to bring to your immediate attention the important resolution that was adopted by the National Council of Women of Canada (NCWC) in 1999, and reiterated at our recent Annual Meeting, held in Ottawa, May 31 to June 3rd, 2012. This Resolution is regarding the Tobin Tax.
In the 1999 policy statement, the NCWC supported an international initiative to implement, across the international community, a tax on speculative international financial transactions. It was earlier that same year, March, 1999, that the Government of Canada passed a motion supporting a tax on financial transactions (Tobin Tax).
With the upcoming G 20 meetings, we would like to point out the intent of the Tobin Tax, as envisioned by Canada (and NCWC) in 1999, was to support development assistance, and not to create domestic revenue to resolve domestic financial challenges. We note that several European countries are now in support of a Tobin Tax, but would use the funds to create revenues for their domestic needs.
During this time of fragile world economy, with many countries reducing or suspending their international aid budgets, it is even more critical to reserve the Tobin Tax for the support of the most vulnerable in the world. We believe Canada should show leadership by reminding others of the original intent of the Tobin Tax, to promote sustainable development, as outlined in the Millennium Development Goals.
Please advise as to the position Canada will be taking at the upcoming G 20 meetings. Sincerely,
Denise Mattok, President, NCWC.
cc. Hon. Bev Oda, Minister for International Cooperation Hon. Jim Flaherty, Minister of Finance
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