A common system of financial transaction tax
ECOS-V/021
A common system of financial transaction tax
THE COMMITTEE OF THE REGIONS
- welcomes the submission of a Commission proposal for a Council directive on a common system of financial transaction tax in the EU, as requested by the CoR in its 2011 work programme;
- considers the introduction of a European financial transaction tax (FTT) to be a further important step towards the urgently needed re-establishment of the supremacy of democratic politics over the serious discrepancies which have occurred in the functioning of financial markets;
- highlights that the financial transaction tax is an important tool for ensuring that the financial sector plays its part in achieving greater solidarity and fairness, and for curbing speculation, as the CoR noted in its opinion on the new Multiannual Financial Framework post-2013;
- supports the objective of EU-wide application of the planned harmonisation and, should that not prove feasible despite all efforts made, calls for the immediate establishment of a European FTT system using the enhanced cooperation instrument, to encompass the euro area at the very least.
- welcomes the submission of a Commission proposal for a Council directive on a common system of financial transaction tax in the EU, as requested by the CoR in its 2011 work programme;
- considers the introduction of a European financial transaction tax (FTT) to be a further important step towards the urgently needed re-establishment of the supremacy of democratic politics over the serious discrepancies which have occurred in the functioning of financial markets;
- highlights that the financial transaction tax is an important tool for ensuring that the financial sector plays its part in achieving greater solidarity and fairness, and for curbing speculation, as the CoR noted in its opinion on the new Multiannual Financial Framework post-2013;
- supports the objective of EU-wide application of the planned harmonisation and, should that not prove feasible despite all efforts made, calls for the immediate establishment of a European FTT system using the enhanced cooperation instrument, to encompass the euro area at the very least.
