The announcement by the French government to prioritize global health research and development is an important step toward making sure life-saving drugs and medical tools are developed and delivered to the people who need them most. We call on additional governments to set up similar financial transaction taxes and to follow the French government’s move to dedicate a portion of the revenue to respond to neglected health needs. Every day in our work, we witness firsthand the failures of today’s health research and development system that does not deliver adequately for people in developing countries.
Sophie Delaunay, Executive Director, MSF-USA, in response to the French government’s announcement that a portion of the financial transaction tax they have decided to implement will be dedicated to global health research and development.
The announcement was made by Fabienne Bartoli, Social Development Counselor at the French Mission to the United Nations at the MSF/Drugs for Neglected Diseases initiative conference on R&D for neglected populations in New York, December 13, 2012.
We’ve seen through our work how key health interventions can change lives, as well as the trajectory of pressing health needs. It’s time global health got its bailout.
With governments scaling back foreign aid, there is no excuse not to allocate part of the funds raised from a financial transaction tax to health needs in developing countries. A financial transaction tax would give us the predictable and sustainable funding source that is needed now more than ever. There are funding gaps across global health that could be plugged with money from a financial transaction tax. It’s time to invest in real lives—real futures.