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

Yet at a time when deficits are persistently high because of rock-bottom growth, leading economies including Britain and the United States need alternative revenue measures from continuing financial market speculation to relieve pressures on lower and middle income households and the public services they use.
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Was just on my way to post that TraDaToR:) I find the above comment amusing considering the UK do get 3 billion a year from a functional ftt, which they would have to scrap in the pursuit of destroying one of their industrys to hand the revenue over to the eu.

Have you noticed that, yet again, Labour doesn't have a policy of its own, but just tries to latch on to another party's policy?

And does so in the lowest way possible, not because there is something constructive they are trying to achieve, but just because they can make noise and score a cheap point or two.
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Sums it up well, a dangerous game for a few political points.
 
June 18, 2013 4:43 pm

European lawmakers vote for transaction tax

European parliamentarians have sought to inject fresh momentum for a regional financial transaction tax by provisionally agreeing a package that would lower the cost of trading for pension funds.

Deputies on the influential economic and monetary affairs committee in Brussels on Tuesday comfortably voted to support a European Commission proposal for a tax.

However, they softened some proposals by the commission and voted to lower the cost of trading for pension funds and for investors trading sovereign bonds and small-cap stocks.

The parliament’s determination to press on largely with existing plans...

Despite very intense lobbying, today’s vote proved that parliament remains consistent and coherent in its approach to this tax,” said Anni Podimata, the Greek MEP shepherding the bill through parliament.
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http://www.ft.com/cms/s/0/3ff39e9e-d823-11e2-b4a4-00144feab7de.html#axzz2WhAR6QWF


Pension funds would only be taxed at 0.05 per cent for stocks and bonds and 0.005 per cent for derivatives UNTIL the end of 2016, the text said. Sovereign bonds should be only taxed at 0.05 per cent up to the same date.
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Wow that solves it! Lower the rate for some market players until 2016 when you hike the lot!

MEPs decided to back the tax rates proposed by the Commission – 0.1% for trades in stocks and bonds and 0.01% on derivatives trades – but said that participating countries should be allowed to apply a higher rate to riskier over-the-counter trades
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Quote from Explorer:

Labour has lost a vote to force the government to support the principle of a financial transaction tax.

http://www.bbc.co.uk/democracylive/house-of-commons-22953324
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So REFRESHING to hear facts and healthy debate on this issue in a parliament. The only person to look confused and throw a worn out line around so far was the labour mp, who looked very confused when he was told we have an FTT in the form of stamp duty, obviously he does not understand the difference between them.
 
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