Financial transaction tax at European level
Following the proposal on the Multiannual Financial Framework Commissioner Šemeta said: "I am very proud to have participated in the discussions that led to the adoption of the Multiannual financial framework package today. This package contains some very innovative ideas.
Among those, further to my proposal, the Commission has decided to put in place a financial transactions tax at EU level. I firmly believe that we can put such a tax in place in Europe as a first step. This will make the EU budget less dependent on the contributions of Member States and at the same time improve market efficiency and stability. I am now working on the best design for the tax. I will make a legislative proposal after the summer. "
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