Grahl, J. & Lysandrou, P. (2014) “The proposed EU Financial Transactions Tax is both illogical and likely to be economically damaging“, LSE EUROPP, 09 Απριλίου.
In 2011, the European Commission proposed a Financial Transactions Tax (FTT) to raise revenue from the financial sectors in EU countries following the financial crisis. To date, however, only 11 EU states have so far agreed to implement such a tax. John Grahl and Photis Lysandrou write that while they broadly agree with the objectives behind the FTT, the approach adopted toward the financial sector is simplistic. By applying an indiscriminate tax to all forms of trading, the FTT could create serious unintended consequences and fail to meet its intended goals.
Eleven member states of the European Union – including France and Germany – have agreed to introduce a Financial Transactions Tax (FTT), to be levied whenever financial assets, such as shares, are traded. Such a tax is a long-standing demand of the left. It is seen as a way of reducing financial speculation, of exacting revenue from the banks and other financial corporations which were responsible for the financial crisis that broke out in 2008, and of cutting down to size an overblown financial sector. We support all three of these objectives, however in a recent article we criticise the FTT from the perspective that the approach to the financial sector which it exemplifies is simplistic.
Σχετικές αναρτήσεις:
- De Grauwe, P. (2014) “Why the ECJ Should Reject the German Constitutional Court’s Ruling“, Social Europe Journal, 11 Μαρτίου 2014.
- Wöhlbier, Fl., Astarita, C., and Mourre, G. (2014) “Consolidation on the revenue side and growth-friendly tax structures: an indicator based approach”, European Economy Economic Papers 513, Φεβρουάριος.
- Καραβίτης, Ν. (2013) “Φορολογική Μεταρρύθμιση: Αξιολογώντας την πρόκληση του ‘Flat Tax’“, Ίδρυμα Οικονομικών και Βιομηχανικών Ερευνών, Ιούλιος .