Tag Archives: financial transaction tax

This week in Europe: 1-4 April

European Union flags - Some rights reserved by tristam sparksEuropean ‘Financial Transaction Tax’ will hit Londoners

A research report prepared for the City of London Corporation has estimated the cost of the proposed European Financial Transaction Tax (FTT) on UK government debt at £4 billion, with further costs for company debt.

Even though the UK is not taking part, bonds issued by our government and companies are traded in EU participating countries and will therefore be subject to the tax. This will raise government spending and the cost of capital and investment.

MEP …

Posted in Europe / International and News | Also tagged | 2 Comments

The Independent View: Liberal Democrats should support Financial Transaction Tax

Charles Beaumont has recently written on this site about the potential for the Lib Dems to go further in taxing the financial sector. In doing so, he raises two options: the Financial Activities Tax (FAT), which he favours, and the Financial Transaction Tax (FTT). For clarity at the outset, the FAT is generally understood to be an additional corporation/income tax on the excessive profits/remunerations in the financial sector. An FTT, on the other hand, taxes all the transactions of financial organisations, such as banks and hedge funds, at the point at which their deals are settled.

Whilst the overarching thrust …

Posted in Op-eds and The Independent View | Also tagged , and | 15 Comments

Opinion: Could the Lib Dems back a Financial Transaction Tax within the EU?

At Spring Conference we passed a tax motion that confirmed our manifesto pledge for support for a global Financial Transaction Tax (FTT).

The implication was that we supported the FTT but only if the entire world agreed. The usual reasoning for this stance is that if we, or Europe, unilaterally institute an FTT it would disadvantage banks within the EU and encourage them to move their operations outside our borders, losing us jobs and …

Posted in Op-eds | 22 Comments
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