The economic crisis caused by the financial sector has brought misery to millions of ordinary people across the world yet record profits and bonuses continue. We believe that taxes on the financial sector are a practical way to generate revenues needed to pay for the fight against poverty at home and abroad and against climate change while discouraging the type of short-term financial speculation that has little social value but poses high risks to the economy.

In the coming months, the Austrian Platform Global Responsibility will be pressing our governments to join the group of FTT pioneers that we hope will emerge this year and continue pressing the European Commission to do all it can within its remit to make this possible.