Forms : Record Breaking Bonuses Return

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Record Breaking Bonuses Return

Wall Street bank JP Morgan Chase has beaten all expectations with third quarter profits of £2.25 billion. Goldman Sachs is set to pay a record-breaking £14 billion in bonuses - the highest in its history. So what has changed?

As our letter to Gordon Brown outlines below, 50-100 million more people will be pushed into poverty this year alone as a result of the global recession.

Please put your name to this letter and let Gordon Brown know that the moment has come to implement the Currency Transaction Levy (CTL) as a mechanism to address this injustice.

The International Community is already moving on this issue – the G20 has tasked the IMF to explore Financial Transaction Taxes, and the 'Leading Group on Innovative Financing’ has begun to explore implementation to boost funds for development.

It is now time for the UK to show leadership and set about speedy implementation of a CTL on Sterling.

Please fill in the boxes below (fields marked * are required). You can either use the suggested text or write your own version. Then simply click 'send email'.

your message: *
Dear Gordon Brown, Goldman Sachs is set to pay a record-breaking £14 billion in bonuses - the highest in its history, with other banks to follow suit. Yet the global recession the banks precipitated will trap between 50-100 million more people into poverty this year alone. Whilst the G20 has promised to prevent reckless banking practices, they also have a responsibility to help its victims. I would like to add my voice to the growing movement for a Currency Transaction Levy as the most feasible and practical mechanism to redress this injustice and provide much needed funds for development. I want to see that something positive can come from the financial crisis and that there is not simply a return to ‘business as usual’. At this crucial juncture I ask you to show leadership in the UK’s historically strong areas of economics and development by proactively supporting international efforts to implement a Currency Transaction Levy. Yours sincerely,
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