European Commission, France, Germany, Finland, Brazil, Bolivia, Belgium promoting Financial Transaction Tax….. Who is going to be next?
The past months have seen many countries formally endorse and promote financial transaction taxes. And most importantly José Manuel Barroso, the President of the European Commission, has announced that they will introduce legislation to the European Union for the implement financial transaction taxes. The legislation is expected after the European summer after the Commission tables its feasibility study on the tax in the coming weeks. Barroso has stated that it is appropriate to introduce at the European level, and then followed at the G20.
In June 2011 , the French and German Parliaments have voted in favour of introducing legislation for financial transaction taxes at the EU level and the EuroZone. More information on our previous post here.
On 15 June, the Brazilian parliament has adopted a resolution calling for the Brazilian Government to support a financial transaction tax. Test your Portuguese and read the resolution here.
At the UN climate negotiating session in Bonn in early June, the Bolivian government call for an international financial transaction tax to cover the costs of the impacts of climate change, protect forests and finance the clean low carbon future for developing countries.
The Belgium Senate voted in favour of a resolution to support a financial transaction tax at the European level in lieu of a global agreement. The funds raised are to go to development and climate change.
With all of this progress in Europe and growing support in Latin America… where is the Australian government’s commitment to international co-operation on financial transaction taxes?
