Why Councils Should Get Behind the Robin Hood Tax

The Local Government Association has estimated that council income will be slashed in real terms by 27% by 2020. Job losses, wage freezes and cuts are also having an impact. Office for National Statistics figures show that the average income per individual householder in Nottingham, the poorest city in the UK, is just £10,834 a year – compared with £16,034 for the rest of the country.  That's why we should celebrate that Robin Hood last week made a rightful return to his home – Nottinghamshire county council voted through a motion in support of the Robin Hood tax. It calls on the government to implement a tiny tax on banks' speculative trading to raise much-needed revenue. The size of the UK's financial sector means this could generate an additional £20bn, providing much-needed revenue that could reverse many of the most damaging cuts.  Read more on the Guardian website.