News

UNI Europa Finance welcomes the European Parliament and Commission President’s support for a tax on financial transactions.



The vote by Euro MPs in Strasbourg last week demanding the tax be implemented at a European level was an important step towards a better regulated finance sector.



In addition, EU Commission President Barroso also publicly lent his support to the campaign stating ‘"I am in favour of a financial transaction tax and will come forward with some ideas in very near future." (Dow Jones newswires, 7 June).



UNI Europa Finance believe that a financial transaction tax would be a fair, useful and sustainable tool to avoid financial risk taking and to make the financial sector pay for its rescue. Huge revenues would be raised for governments. Short-term speculation would be reduced. Markets and the global economy would also be more stable. However, a financial transaction tax cannot replace, but only come in addition to strict financial regulation.



UNI Europa Finance is working closely with the European Trade Union Confederation and the European for Financial Reforms to push for a European wide financial transaction tax. As part of this campaign, UEF has worked closely with the European Commission to ensure the views of finance workers are taken into account.



For more information please see the EFFR website:



http://europeansforfinancialreform.org/en