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Tuesday, 14 February 2012
France Pushes for Tax
The French parliament last night debated the introduction of a financial transactions tax.
The proposal is substantially watered from original thoughts. It will levy 0.1 per cent on trades in shares listed on the Paris bourse with a capitalisation in excess of € 1 billion. The tax is expected to raise € 1 billion.
The French Banking Federation is opposed to the measure calling it the “Sarkozy re-election tax”.
The French government claims that eight other eurozone countries will introduce similar measures. There are hopes that this type of tax will be widened to other instruments and applied throughout the eurozone.
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