EU Parliament backs financial transaction taxes

Posted on

The Press Association: MEPs call for tax on rich banks.

The PA reports:

Euro-MPs have called for an EU "Robin Hood tax" on rich banks to help fund development policies for the poor.

An overwhelming vote in favour of the move was welcomed by the TUC and Oxfam, but condemned by Tory MEP Kay Swinburne as giving tax-raising powers to Brussels.

A resolution approved by 536-80 votes said a "Financial Transaction Tax" could be used for "innovative financing" for climate change or development projects. It backed a worldwide tax but asked the European Commission to look into how to implement such a tax at EU level if a global agreement cannot be reached.

The campaign for financial transaction taxes marches on.

And rightly so.


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

  • Richard Murphy

    Read more about me

  • Support This Site

    If you like what I do please support me on Ko-fi using credit or debit card or PayPal

  • Archives

  • Categories

  • Taxing wealth report 2024

  • Newsletter signup

    Get a daily email of my blog posts.

    Please wait...

    Thank you for sign up!

  • Podcast

  • Follow me

    LinkedIn

    LinkedIn

    Mastodon

    @RichardJMurphy

    BlueSky

    @richardjmurphy.bsky.social