International tax: many people don't take it seriously, but everyone is still talking about it

Even if French president Jacques Chirac couldn't make it to Davos, he managed to get everyone talking about him. Since the speech he gave on the first day of the Annual Meeting, journalists and participants have been constantly bringing up his controversial project for raising money to fight poverty and AIDS.

During Tony Blair's press conference this morning, the first question asked was what he thought about this international tax proposed by M. Chirac. To avoid the polemics, British Prime Minister said he hadn't had the time to study the idea in details yet, but that there were "different means" to get financial resources.

After the conference, M. Blair, presidents of South Africa, Thabo Mbeki and Nigeria, Olusegun Obasanjo, former President Bill Clinton, Microsoft Chairman Bill Gates and U2's Bono got together to discuss "G-8 and Africa: Rethoric or Action?". French journalist Christine Ockrent, the session's moderator, started it out asking about M. Chirac's proposals.

M. Blair repeated that the ideas had yet to be analysed. Later on, the subject came up one more time and Bill Clinton reacted, almost angrily. "Let's not get diverted here!", he said, adding that the debate over this international tax was keeping people from focusing on what is really important: how to spend the money available efficiently.

When the audience was invited to participate, someone questioned the guests why they were so hesitant about the international tax if there is not enough money for aid. "Who would approve it? How? I have never seen an international tax", answered M. Clinton. And Bill Gates added: "The most optimistic in the room knows that it will be five or ten years before we can have such a tax".

Trying to change the subject, the moderator interrupted claiming that the issue would be debated later on other sessions. But the participants insisted. At the end of the session, George Soros got the microphone and showed his support for Jacques Chirac's ideas: "Unless they find a better way, let's do it!".

-- Joana Calmon

Comments

[Sam]

[From the Editor: Racism is unacceptable on this weblog and this comment has been removed.]

[IJ]

There is widespread support for getting more money to spend on aid. But where will it come from, if not volunteered by individual nations?

An international tax is one solution. The French President proposes that the tax is levied on speculative financial transactions. A press release this afternoon from Davos says the German Chancellor supports the international tax.

However former US President Bill Clinton suggests an international tax is a no-no. It is likely to be opposed by the United States. Explaining the US administration's reluctance to give international assistance: "Mr Clinton said the low level of aid from the US was explained by the fact that "no-one ever got beat running for Congress or president for not doing it." http://news.ft.com/cms/s/5cd982ac-7081-11d9-b572-00000e2511c8.html