In a letter, published by the Guardian today, Women and Children First and other key international health charities, ask the government to demonstrate its support for a currency transaction levy as a means of boosting assistance to the developing world.
The global economic crises is taking its toll on women and children in developing countries. If the crises continues a the World Bank estimates that 200,000 - 400,000 more children will die each year. It is vital that health aid continues even through these tough times.
Governments of the G8 nations must look to innotative financing tools to ensure the pledge they made 40 years ago (and recommitted to in 2005) to direct 0.7% of national income is met. One such way is a currency transaction levy; It is estimated that a tax of just 0.005% on the global currency trading markets could raise an additional $40-60bn for development each year.
As G8 leaders gather in Italy this week, we ask them to consider a currency trading tax to help boost funds which are desperately needed to improve the wellbeing of women and children in the poorest communities.
The full letter can be read on the Guardian Website or by clicking here.
