EU should support calls for financial transaction tax said CONCORD

European development agencies today welcomed the commitment of European and other world leaders to deliver on the Millennium Development Goals by 2015. But they warned that with just five years to go European countries must get back on track to meet their aid spending targets.

They also welcomed the support by France, Belgium and Spain for a tax on financial transactions – proposed by development agencies for the past decade – to secure new money to accelerate progress towards the goals and said Europe should unite to agree this tax. CONCORD, the European confederation of NGOs, urged the European community to support President Sarkozy in pushing for this tax when his country takes the presidency of the G8 in 2011.

CONCORD said a financial transaction tax could provide a desperately needed lifeline to billions of the poorest people in the world. “It could deliver up to $400 billion annually and complement European aid budgets, allowing the EU to target specific initiatives in countries that have made the least progress towards the goals,” CONCORD President Justin Kilcullen said.

CONCORD expressed disappointment at the failure of the majority of EU member states to meet their aid commitments, particularly Germany, France and Italy given their membership of the G7. EU countries must deliver on the commitment to spend 0.7 per cent of national income on development aid by 2015, CONCORD said.

“We have five years left to keep the promise we made to the world’s poorest people,” Mr Kilcullen said. “To truly eradicate poverty we must firstly meet our aid commitments. We also need to look at the structures that make and keep people poor. That means examining our global and bilateral deals on trade, dealing with the debt crisis of the poorest countries and facing up to our responsibility on climate change”.

“In addition we must recognise that without the respect of human rights of and especially women being fully recognised and their full participation in society the MDGs will not be attained.”

CONCORD said with sufficient resources, the EU could clearly and collectively lay out its action plan for achieving the MDGs by 2015. “If we fail to deliver it will be an indictment of the wealthiest countries in the world. Europe must show leadership at this crucial time”, the Confederation stated.

Source: DemNet Hungary

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