UNI Global Union has called for a financial transaction tax that will provide resources for social safety nets in the wake of the global financial crisis.
In an address to the UNI Africa Executive Committee meeting in Cairo, Egypt 9 – 11 March, UNI General Secretary Philip Jennings said the global financial crisis was not caused by workers yet “all of us are paying the price.”
“The business elite are hoping that this rough weather will pass by and then it will be business as usual. We need a financial transaction tax (Tobin tax) that will provide resources for social protection to workers everywhere. Currently, only five per cent of workers globally have social protection.”
He said business executives were earning between 900 and 400 more than the average worker and urged trade unions to ensure that there was a voice in the workplace to reduce the gap between the rich and the poor.
Noting that the services sector was growing rapidly globally, Jennings urged trade unions to lead the way to organise the new generation of workers in the private sector.
