1/4% Tax on all stock trades pushed in NY Times today

Quote from listedguru:



Not sure I like his line about the FTT being something the UK would be very happy to look at. Hopefully this is just his way of being kind knowing that a global FTT isn't going to happen.

-Guru
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That seems likely to me. There was a union protest at the weekend over planned cuts to the public sector during which a few lefties called for an FTT as an alternative to cuts, which is probably this came up in Parliament today . Cameron probably just sought to avoid unnecessary argument by expressing apparent sympathy to the idea on a global basis.
 
Quote from listedguru:

"Financial centres are about much more than computers. The most important element of trading is time zones. There is insufficient incentive for financial centres to be located in, say, Morocco or South Africa because they are on the same time zone as Europe."
-Guru
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LOL...Same thing for Switzerland, Liechstenstein, Cyprus for sure. Hedge funds are already migrating to Geneva without even a FTT threat. Clueless.
 
http://www.nasdaq.com/aspx/stock-ma...iefaim-to-propose-revised-energy-tax-in-april


[...] Semeta added that the commission is assessing both a financial transaction tax and financial activity tax.

"It is time to find ways to ensure a contribution [from] this sector to public revenues," he said.

There is still a lot of technical work that needs to be done to explore both options, but they currently "have equal footing", he added.

In prepared remarks Monday, Semeta said there are still outstanding questions on the effectiveness of a financial transaction tax.

Semeta identified a number of risks to this type of tax, including losing business to regions with more attractive policies, the risk of double taxation through uncoordinated tax schemes and excessive administrative costs.

"The effects of the tax on financial market stability are debatable," said Semeta.
 
APRIL 5, 2011, 11:29 A.M. ET

BRUSSELS (Dow Jones)--European Commission President Jose Manuel Barroso Tuesday signalled growing divisions within the European Union over efforts to take a more aggressive response to the financial crisis.

The commission has sought to expand the euro area's provisional bailout fund and pursued financial transaction taxes, but some national governments are opposed, Barroso said Tuesday.

Speaking in Strasbourg to the European Parliament, he addressed calls for making the banking industry bear a larger burden of the costs of the crisis through a financial transaction tax.

"Several member states oppose it fundamentally...they will not agree," Barroso said.

The commission is assessing different options for the financial sector . . .

http://online.wsj.com/article/BT-CO-20110405-708465.html
 
Quote from Explorer:

That seems likely to me. There was a union protest at the weekend over planned cuts to the public sector during which a few lefties called for an FTT as an alternative to cuts, which is probably this came up in Parliament today . Cameron probably just sought to avoid unnecessary argument by expressing apparent sympathy to the idea on a global basis.
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the only thing for certain is that the FTT idea will not go away.

obama will go for the tax under the right circumstances. it goes with his nature since he doesn't believe in markets.
 
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