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Small global taxes would make a big difference for world's 'bottom billion'

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The Doha Conference in November 2008 called on the world to change the dimensions of innovative development financing. New instruments that are based on global activities are becoming available to us – broad-based financing that could, through miniscule contributions repeated numerous times, change the dimensions of hope, if properly coordinated.

Toward the UN Summit on the Millennium Development Goals this September, we will endeavor to have more countries understand the interest of innovative development financing, whose success has already generated more than $3 billion since 2006.

France has promoted innovative development financing from the start. With Spain, Brazil, Chile, and others, it launched the Leading Group on Innovative Financing for Development in 2006, and 60 member states have already joined. Japan assumed the presidency of the Leading Group in June and will hold the eighth plenary meeting in December. Under its presidency of the European Union, Belgium decided to put the issue on the development agenda. Discussion on innovative development financing must now be further extended to the global political arena through the efforts of the Leading Group including Japan, Belgium, and France.

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