TO MAK∃ ANOTH∃R WORLD POSSIBL∃ … ... R∃FORM INT∃RNATIONAL INSTITUTIONS !

To put an end to social imbalances … To eradicate poverty … To conserve the environment … To achieve equality between sexes … To achieve peace … To govern globalisation democratically …

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“CTT for FfD"- “Currency Transaction Tax for Financing for Development".

The proposal refers to the application of a tiny levy (in the region of 0.005%) on international currency movements. Given the huge amount of money involved in currency exchanges, applying this tax would enable a very significant amount of resources for development to be collected.
Specifically, we propose that the outcomes of Doha meeting should include the creation of a Global Tax on Currency Transactions (CTT for FfD) as an additional, predictable, stable and sustainable source of Financing for Development, the funds from it being channelled into multilateral funds run by the United Nations for use, initially, in achieving the MDGs by 2015. For more information on the CTT, see the website www.cttffd.net.
In short we propose that financing for development be based not only on official development assistance (which must of course now be raised without further delays of any kind to 0,7% of the GDP of the rich and powerful countries), but also on the indispensable and just redistribution of the economic wealth generated in the world.
Such redistribution can only be assured by a reformed system of international institutions, one that must evolve, as we always say in the context of the “WORLD CAMPAIGN FOR IN-DEPTH REFORM OF THE SYSTEM OF INTERNATIONAL INSTITUTIONS", towards a new system of Democratic World Governance capable of collecting and managing those global levies, among other things.
 
A shared moment
As you know, this proposal also brings synergies with other proposals to which the Campaign is linked. This is why we invite you to participate in the activities of the Global Call to Action against Poverty (GCAP), especially on the 17 October (for more information on the GCAP, see their website
www.whiteband.org), as well as in the activities of the Global Debt Week which will be held on 14-21 October (for more information on the week of action against debt, see their website www.debtweek.org).