Skip to comments.EU: Financial tax should be used for development aid and climate
Posted on 02/27/2013 12:40:19 PM PST by Olog-hai
The European Commission said revenue from a proposed financial transaction tax (FTT) should be set aside to fight poverty and climate change, as an investment against global instability.
I would very much want member countries really to take it seriously, European commissioner for development Andris Piebalgs told reporters in Brussels on Wednesday (27 February).
The FTT is backed by 11 member states and would put 0.1 percent levy on bonds and shares and 0.01 percent on derivative products. Estimated generated annual revenues could range between 30 billion to 35 billion ($39 billion$46 billion) a year.
(Excerpt) Read more at euobserver.com ...