Financial transaction tax

25.1.2017

Question for written answer E-000403-17
to the Commission
Rule 130
Steeve Briois (ENF) , Bernard Monot (ENF) , Dominique Bilde (ENF)

The aim of the financial transaction tax is to force institutional investors to act in the interests of the real economy by preventing speculative bubbles from developing. Revenue from the tax would be used to stabilise public finances of Member States and fund development aid programmes. Shares would be taxed at 0.1% and derivatives with underlying assets which are not bonds at 0.01%. Although the ten participating Member States have reached a consensus on the broad outline of the financial transaction tax, progress on turning it into a reality is slow and no final agreement has been reached.

1. Why has progress on the financial transaction tax stalled?

2. What is the Commission’s position on making high-frequency trading and intraday transactions subject to the tax?

3. If the financial transaction tax were adopted, would the Commission then seek to extend it to all EU Member States?