Foreign Affairs committee  I will quickly say that if you look at the two major stock exchanges in the world, the New York and the British stock exchanges, it could probably be in the hands of the U.K. and the U.S. if Canada doesn't get on board. That's $650 billion that the U.K. government and the U.S. ca

Foreign Affairs committee  Well, ideally it would be a global tax—

Foreign Affairs committee  All countries. But, for example, in Europe, if the tax just took place in the U.K. and Germany, that would cover off 97% of financial transactions.

Foreign Affairs committee  Collection would be the stock exchanges in the individual countries.

Foreign Affairs committee  Who would administer it? It would be administered by the individual stock exchanges, but if it happened on a global basis—

Foreign Affairs committee  It would be the individual stock exchanges, but probably if it moved forward as an initiative, you would have to set up a body that would administer all of the funds.

Foreign Affairs committee  Who would get the money? Again, I don't think we've gotten there yet. We're still talking about the tax, but Gordon Brown—

Foreign Affairs committee  It would collect $650 billion a year or more.

Foreign Affairs committee  We were not consulted either.

Foreign Affairs committee  Hello there. My name is Fraser Reilly-King. I'm with the Halifax Initiative, which is a coalition of 18 development, environment, faith-based, human rights, and labour organizations. We focus on international finance issues, with specific attention to the activities and policies

Foreign Affairs committee  Civil society is always ambitious, but I think we're hoping to have something ready by January, at least an initial report that would flesh out the principles a little bit more. If the committee were to have a hearing in February, then it could feed into that.

Foreign Affairs committee  The idea of democratizing the G-20 goes back several years. At the more official level, three studies have been done, two of them by former UNDP administrators, on how to go about structuring such a body. More recently, another was done by the UN Commission of Experts. It was cha

Foreign Affairs committee  I think, in part, it's a question of travel. There's a precedent for this happening, I believe, for Kananaskis and Halifax. There was some trouble involved when the committee held similar hearings in the lead-up to the G-8. It's in part a question of travel, but also a suggestion

Foreign Affairs committee  We've come together, over 20 groups, as a coordinating committee, and feel the three priorities for next year are climate change, the financial crisis, and a number of issues related to the millennium development goals, which will be up for review next year. I think that might be

Foreign Affairs committee  One thing we struggled with, obviously, was to try to capture all of the issues, but not do it in 100 pages. So there are a lot of elements in there that still need further defining. I mean, there are 43 low-income countries and around 60 least-developed countries, so there could