Global Policy Forum

Nurturing Development: The Role of Innovative Financing for Development and its Implications of Economic Governance

Julien Meimon, Manuel Manonelles and Gail Hurley
In the context of the 5th High Panel Debate on Financing for Development, GPF and UBUNTU Forum co-sponsored this event on how to better align the twofold goals of effective economic governance and fundraising for development.  The discussion featured Manuel Manonelles (UBUNTU Forum), Peter Bakvis (International Trade Union Confederation), Julien Meimon (Leading Group on Innovative Financing for Development), Gail Hurley (United Nations Development Program) and Rodrigo Robredo (Spanish Foreign Ministry). The debate focused on Financial Transaction Taxes, in particular the Currency Transaction Tax (CTT) and on the Air Transport Levy as three innovative methods which succeed in raising revenues for development while taxing those individuals and economic sectors that have the financial capacities to pay. At the same time, FTTs and CTTs can improve economic governance and push speculation back.

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