ActionAid is disappointed that the Chancellor hasn’t listened to the hundred’s of thousands of people in this country who want him to implement a Robin Hood Tax on the banks.

Claire Melamed, Head of Policy at ActionAid said: “The 140,000 supporters of the Robin Hood Tax campaign will be pleased to see an acknowledgement that we need to tax banks more.  But this budget leads those supporters on a merry dance. 

"The Chancellor could have led the world by introducing a tax on sterling currency transactions.  This could have paved the way for a global system of financial transaction taxes that would raise the cash desperately needed from the banks.  Instead he has chosen not to.

"If the Chancellor is determined to implement a tax the banks on a global basis, the onus is on him to show that his approach can work.  He needs to persuade his colleagues in the G20 to agree to a multilateral system of financial transaction taxes in the next few crucial weeks.”

“The measures announced by the Chancellor to help tackle tax dodging still leave the vast majority of developing countries without the information they need to stop money being squirreled away in tax havens.  Billions continue to be siphoned from rich and poor countries alike and tougher global action is needed before everyone is paying their fair share. "