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Innovative Financing Mechanisms for Health: Why Financial Transaction Tax (FTT) should not drift away from benefiting international development and health

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David Martin MEP, Chair of the EP Working Group on Innovation, Access to Medicines and Poverty-Related Diseases cordially invites you to:
 
Innovative Financing Mechanisms for Health:
Why Financial Transaction Tax (FTT) should not drift away from benefiting international development and health
 
Lunch Debate
 
European Parliament, Brussels
Room P3C050
18 October 2011, 12.00 – 14.00

Since 2010, the introduction of a Financial Transaction Tax (FTT) has been heavily debated at EU level. President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, the European Commission and the European Parliament have all expressed public support for an FTT ahead of the G20 in November. At this occasion, Bill Gates will also present a report on innovative financing for development, requested by President Sarkozy.
 
A part of the FTT revenues should be invested in global public goods, and thus used to alleviate extreme poverty and to help reach the Millennium Development Goals (MDGs). If we are serious about achieving the MDGs by 2015 and address the needs of the poorest, we urgently need new and innovative sources of financing. An FTT could turn the global economic crisis into a global opportunity, by making banks, hedge funds and other parts of the financial sector pay their fare share to clear up the mess they helped create – and provide long term financing for among others global health. Speakers include:

  • Philippe Douste Blazy, UN Under-Secretary-General, Special Advisor on Innovative Financing for Development, Chairman of UNITAID
  • Michel Barnier, EU Commissioner for Internal Market and Services (tbc)
  • Andris Piebalgs, EU Commissioner for Development (tbc)
  • Anni Podimata, Member of European Parliament, Former Rapporteur on Innovative Financing at Global and European level (tbc)
  • David Hillman, Coordinator of “Stamp Out Poverty”, Campaigner for additional sources of finance to bridge the massive funding gap required to bring the world’s poorest people out of poverty

Moderation: Laura Shields, journalist