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Friday, 7 April
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Currency Transfer Taxes: Resources for Social
and Sustainable Development
This
event, organized by the World Council of Churches, the UN Division
for Social Policy and Development, and the Canadian Council of Churches,
discussed the topic of the currency transfer tax. Presenters discussed
what it is, and what action is being taken to initiate discussions
on the tax at the international and national levels. A Canadian proposal
is before the PrepCom, proposing further study of the feasibility
of a currency transaction tax, which would highlight the pros and
cons of implementing such a tax. Panelists urged that the PrepCom
consider the Canadian proposal for inclusion in the outcome document. |
Bart Bode,
International Cooperation for Development and Solidarity, Belgium,Co-Chairs
Hellen Wangusa (Uganda), and Wayne Easter, Member of Parliament,
Canada
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Lidy
Napcil, Jubilee South, the Philippines (left),
explained what the tax is, stressed the importance of making the
issue more understood at the grassroots level and of linking it
to what is important to people at the grassroots level, and said
the tax would have result in "restitution and reparation."
Bart Bode (right) discussed concrete examples of where action
has been taken nationally, including Chile and Malaysia, and calling
to "collect nationally and allocate globally."
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Wayne Easter
said Canada is moving toward such a tax, as the issue has been introduced
in the Canadian Parliament to begin further study of the feasibility
of implementing such a tax. He said it can be done, and will take
political will. He said the aim of such a tax would be to mobilize
resources for social development, limit speculation and help deal
with financial turbulence. He called for support of the Canadian initiative
at the PrepCom to begin the process, which does not call for implementation,
rather further study. He stressed the importance of taking aggressive
action and of building alliances globally. Because of the nature of
international financial markets, an international effort must be undertaken
to make such a tax a reality. |
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Building Local Realities and Global Strategies
This
World Bank sponsored event was chaired by PrepCom Chair Maquieira
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Linkages Coverage of the World Summit for Social Development in Copenhagen