A UN tax on all foreign exchange transactions is being considered, with a move towards new models of funding, ‘believing that in our interconnected world there is a need to find new ways to fund solidarity that goes beyond national borders’. The UN have considered the political feasibility, costs and benefits of a ‘Financial Transaction Tax’ (FTT) or Tobin Tax, to raise between US$25 and 34 billion annually in Europe. However, many believe that the tax is a danger to national sovereignty and to the necessary transparency of the UN; so they are calling upon policy-makers at all levels to reject the Global UN Tax. A global tax has long been on the UN radar; they proposed it in the annual Human Development Report as early as 2011. A global tax on financial transactions would bring trillions of dollars into the UN and countries would have no say on how it is spent.
UN global tax?
Written by David Fletcher 16 Sep 2016Additional Info
- Pray: for the UN to receive voluntary contributions from governments; pray for unrestricted transparency in all UN global financial transactions. (Pr.19:17)
- More: c-fam.org/about-un-global-tax/