European Union Financial Transaction Tax | AFME

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European Union Financial Transaction Tax
06 May 2014
Rebecca Hansford Head of Media Relations

Simon Lewis, Chief Executive, AFME, has issued the following statement concerning the Financial Transaction Tax (FTT), on conclusion of the ECOFIN meeting today:

“The intention of the participating Member States to introduce an FTT by 2016 is disappointing. Although the evidence continues to show that such a tax will have serious harmful economic effects for end-users of financial markets throughout Europe, the participating Member States are working towards imposing a tax on transactions in equities and certain types of derivatives.

“This would have a negative impact on growth and jobs, while creating uncertainty for investors by leaving the door open for further taxation through the step-by-step approach that is now envisaged.”