Lammert calls financial transaction tax “abusive

Lammert calls financial transaction tax

"From children"s food to coffee machines to cars and production equipment, everything and anything is subject to sales tax – but financial transactions are not."This is impossible to communicate to a public sensitized by the turbulence of the financial markets.

The CDU politician added that he considers the issue "so urgent that we should implement a financial transaction tax in as many countries as possible – at least in the eurozone". This is connected with the expectation that in the course of time other countries will join such a solution. The desired solution for the entire european union will be "difficult, however, because great britain and other countries do not want to follow it or do not want to follow it".

In the fall, the EU commission presented a proposal for a financial transaction tax in all 27 EU member states. The tax is to be levied on transactions from 2014 if an actor is based in the EU. Trading in shares and bonds taxed at a rate of 0.1 percent, derivatives at 0.01 percent. Brussel hopes for annual revenues of around 57 billion euros.

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