NEW YORK, Jan 31, 2001 ( – In a list of proposals issued yesterday by the United Nations to help poor nations deal with globalization , a suggestion to tax international currency transactions was made. The Washington Times revealed the suggestion found in paragraph 113 of the 64-page report. A 0.1 percent tax on $1.5 trillion worth of “speculative” currency transactions could yield $150 billion a year that could be used to stabilize volatile markets, said the report, compiled in collaboration with the World Bank, the International Monetary Fund, the World Trade Organization and others.

But when the Times called UN officials about the suggestion, backpedaling began in earnest. “We have not recommended any such thing,” Nitin Desai, the U.N. undersecretary-general for economic and social affairs. “It’s one of the areas where the report is not clearly making an explicit recommendation but simply saying that someone has said, ‘Think about it.’ “

Jim Hughes, National President of Campaign Life Coalition Canada told LifeSite that suggestions for international taxation to fund the United Nations have been proposed since at least 1993 when they were brought up at the Copenhagen conference. Hughes noted such funding is “dangerous since it will be used to promote the UN’s anti-family policies.” He said that rather than funding the UN “we have to work with poor countries to develop their own programs rather than usurp their sovereignty with UN-dictated measures.”

See the full UN report in pdf format at:

See the Washington Times report at:


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