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PES takes strong line on Financial Transaction Tax

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Tuesday, 19 April 2011

PES takes strong line on Financial Transaction Tax

On 14 April, the PES adopted a declaration that strengthens our position on an FTT. The declaration outlined 5 demands. They included a commitment to go ahead on an FTT within the European Union; to enact EU legislation as soon as possible; to set a clear percentage (0.05%); to use any funds raised for a progressive agenda; and to particularly target 'socially useless' financial transactions. PES President, Poul Nyrup Rasmussen said that; "After our successes in the European Parliament and our strong call to the European Commission, calling for a European FTT, our attention now turns to EU Prime Ministers in the European Council. We will use the time between now and June to invest in our campaign; Our support is building steadily. A European FTT is becoming a clear and tangible option".

Source: PES