EPSU welcomes the vote in European Parliament’s economic and monetary affairs committee on 25 April in favour of a Financial Transactions Tax in Europe, as a first and essential step towards a global FTT. The vote in plenary is scheduled for 21-24 May 2012.
EPSU Press communication
(27 April 2012) EPSU welcomes the vote in the European Parliament’s ECON committee in favour of a Financial Transactions tax on 25 April 2012
The report drafted by Greek Socialist MEP Podimata was adopted by 30 votes in favour and 11 against.
It is a step forward as EU economic and finance Ministers are unable to take a decision on what should be the highest priority:
- To secure more public revenues to serve the general interest
- To make the undertaxed financial industry pay its fair share of the cost of the crisis
- To contribute to a fairer tax system
- To reduce the risks of another global crisis
The Podimata report supports the EU draft directive subject to stricter anti-avoidance measures so that anyone, whether based in or outside the EU, buying financial instruments issued in the EU would have to pay the tax and that the instrument can not be legally transferred unless the tax has been paid.
If the EU-27 governments cannot agree by September 2012, the tax should be introduced in those countries that support it.
“ The FTT is arguably the only positive legislative initiative over the past 4 years in response to the financial crisis. It is part of our alternatives to cuts in public service jobs, pay and pensions. The vote in plenary should send a strong positive signal to Council to introduce a FTT in Europe, rather sooner than later, and as an essential step towards a global FTT”, says Jan Willem Goudriaan, EPSU Deputy General Secretary.
The vote in plenary is scheduled for the week 21-24 May.
The draft Podimata report is available in all EU languages @ http://www.europarl.europa.eu/meetdocs/2009_2014/organes/econ/econ_20120425_0900.htm
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