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Transcript of Financial Resources
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Financial Resources
www.actionforglobalhealth.eu
ResourcesDomestic Resources
International Solidarity
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Filling the Gap
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International Solidarity
Official Development Assistance
Additional Innovative Sources
Private philanthropy
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Launched today in Spain
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Private giving ranges from individuals through companies to large foundations
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Innovative Health Fianancing
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Debt2Health
Affordable Medicines Facility - malaria (AMFm)
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Currency Transaction Levy for Health
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¥€$We can
A small charge on each transaction on the foreign exchange markets as a sales tax with a rate of 0.005% could raise $30 billion each year
and if the EU acted alone in excess of $16.5 Billion
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www.actionforglobalhealth.eu
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Not a new idea
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Nobel prize winner Tobin suggested the tax at a much higher rate to limit speculation on currencies
The idea has been followed ever since – particularly by those on the left looking to control “the markets”
REGULATEGLOBAL FINANCE
N W!
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Make Finance Pay
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Campaign to get a million signature petition
A Lisbon Treaty“Citizens Initiative”
REGULATEGLOBAL FINANCE
N W!
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• Trade Unions• Faith Groups• Anti-Poverty Campaigners• Development NGOs• Social NGOs• Environmentalists
A “web 2.0” campaignBrings together:
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The RHT “ask”
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Tax on all financial transactions at average of 0.05%
Revenue divided:•50% domestic social spending•25% International climate finance•25% MDGs
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More “Facebook friends” than the three main UK parties - combined
Vote rig story – Goldman Sachs getting caught
strategy is based on the assumption that supporters will engage with this campaign roughly as follows:
Enthused > Inspired > Involved > Active
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The Campaign Comes to Brussels
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“Obama” bank levy: an “insurance” fund for the financial sector
Would raise a much smaller sum and nothing for Global Public goods
Even more minimal proposal made by the EC last week
Other related proposals
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Barnier last week
"The examination of such measures should continue in parallel as a useful complement to the preventive funds that are considered in this Communication."
But Barnier did not rule out EU action on FTT in addition
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What Now?
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