In spite of Canada's attempt to bury it at the Toronto G20 meeting, a tax on financial transactions is back on the global agenda and gaining momentum.
French President Nicolas Sarkozy has pledged to use his term as chair of the G20 to reform the global financial system and curb the speculation that contributed to the economic crisis. At the top of his agenda is an international financial transactions tax (FTT) to fund the fight against poverty and climate change.
The corporate responsibilty to respect human rights
Detractors of Private Member’s Bill C-300 (IU February 2009) draw attention to the bill’s treatment of human rights. The bill establishes guidelines for Canadian extractive companies that operate overseas. These guidelines must be met by companies that receive support from Export Development Canada, the Canadian Pension Plan and Canadian embassies. The guidelines are to include provisions based on Canada's international human rights obligations.
Hon. James Flaherty
Minister of Finance
Department of Finance Canada
140 O’Connor Street
Ottawa, ON K1A 0G5
Hon. Lawrence Cannon
Minister of Foreign Affairs
Foreign Affairs and International Trade Canada
125 Sussex Drive
Ottawa, ON K1A 0G2
1st February 2010
Ref: Immediate debt cancellation for Haiti
Dear Ministers Flaherty and Cannon,
We are writing to commend the government’s efforts to date to mobilise emergency assistance for disaster relief in Haiti and for speaking to the urgency and importance of debt cancellation for the country. The call to cancel Haiti’s remaining multilateral debt, including last week’s highly concessional $102 million loan from the IMF, benefits from a strong Canadian voice. We urge you to keep demonstrating such leadership in the government’s interventions at the Bretton Woods Institutions, and at Haiti’s largest multilateral creditor, the Inter-American Development Bank (IDB).