From the TUC

German Chancellor backs European Robin Hood Tax

08 Jun 2010, by in International

The Financial Times reported today that German Chancellor Angela Merkel, while pushing for substantial cuts in the German public deficit, would also be seeking a European-level financial transactions tax (FTT) by 2012. This demonstrates that the G20 finance ministers’ meeting in South Korea last week may have reduced the chances of getting a global tax, but has simultaneously made a European tax more likely. The UK’s coalition government is committed to a unilateral bank levy, and the Belgians who are taking over the Presidency at the end of this month (along with the Austrians) are also already committed to a European FTT.