Stamp Out Poverty Campaign : Update - Autumn 2005

Stamp Out Poverty expands beyond Currency Transaction Tax

The Stamp Out Poverty campaign after consultation with its member organisations agreed during the summer to extend its remit to cover various innovative mechanisms to finance development, as opposed to having an exclusive focus on the currency transaction tax (CTT). Whilst the CTT remains our flagship campaign, it is an exciting prospect that we can broaden our sphere of work to encompass such initiatives as the Air Ticket levy (ATL), which has made such rapid progress this year.

France champions first dedicated development tax

The Air Ticket levy took a decisive leap closer to reality when more than 50 countries declared themselves in favour of it in New York last month. The United Nations were holding one of the most important summits in the last five years on how to pay for the Millennium Development Goals. Disappointment abounded as such a long-awaited gathering achieved so very little. But there was a chink of light in the darkness. A positive breakthrough as 66 countries signed up to a new declaration on innovative mechanisms for financing development. The group, led by France, Brazil and Chile agreed to support a tax on airline tickets, and to convene a ministerial conference on the issue in February 2006. (Click here for full story).

+++Urgent Action – THIS IS A FIRST+++

+++Urgent Action – THIS IS A FIRST+++

Now our remit is extended we would like you FOR THE FIRST TIME to press a politician on an issue that is

not the Currency Transaction Tax – we urgently need answers about the Air Ticket levy. It is vital that decision-makers know that civil society is watching them in this critical period as we approach the setting up of the first nationally collected, internationally disbursed, ring-fenced tax dedicated to the alleviation of poverty in developing countries.

We need urgent answers from Gordon Brown on the Air Ticket levy. Click here to send him an immediate message.

‘Progress and Action’ conference – Saturday 19 November

Stamp Out Poverty is holding a one-day conference at which some of the most renowned specialists in the field of innovative sources of development finance will be speaking. Jean-Pierre Landau, whose report for President Chirac on new ways to fund development has opened up the political space for unprecedented progress in 2005. Professor Avinash Persaud, a leading UK foreign exchange expert, will explain why his views have changed and he now thinks taxing the currency trade would provide an effective revenue stream to finance development. Professor Rodney Schmidt, one of the world’s leading architects of the modern Currency Transaction Tax (CTT) proposition, will be joining us from Canada. At the conference we will launch a short report giving a detailed response to counter the outstanding issues the UK Treasury has with our proposition for a stamp duty on sterling currency transactions.

The event takes place from 10.00am – 4.30pm on Saturday 19 November at Camden Town Hall, Judd Street, London, WC1 (click here for a map, nearest tubes: Kings Cross and Euston). We very much hope you are able to attend – places will be allocated on a first come, first served basis. Book early to avoid disappointment.

Please RSVP to Simon Chouffot on 020 7620 0757, or email

Stamp Out Poverty beats City Star in Currency Tax debate

To conclude this update – a little treat – how Stamp Out Poverty went head-to-head with Goldman Sachs – the financial sector’s leading investment bank – debating the case for a currency transaction tax (CTT)… and won.

(Click here for the full story).