Louis Grech (S&D), in writing. − The Podimata Report on Enhanced cooperation in the area of the creation of a financial transaction tax is a recommendation giving consent and authorisation to Member States that have indicated their readiness to proceed with the establishment of the FTT tax within the framework of enhanced cooperation.
Although I have a number of concerns and I cannot support a common financial transaction tax for all Member States, as this would have an adversary effect on countries like Malta, where the financial sector contributes substantially to national GDP and employment, I cannot interfere in the choice of other Member States should they decide to move faster on the adoption of the finical transaction tax on their territories by means of enhanced cooperation, as long as it does not prejudge the Member States which will participate. Therefore, I am in favour of the Podimata report, as long as the competences and obligations of the non-participating Member States are not affected and they are not required to raise such taxes on their territories.