About: financial transactions tax (FTT)
French MEP floats ‘win-win’ green compromise on EU budget
A European tax on financial transactions and corporate profits could bring an annual €120 billion to the EU budget and finance a green recovery from the COVID-19 crisis, without asking a penny more from national governments, says Pierre Larrouturou.
Spain obstructs agreement on ‘Tobin tax’
Revenue sharing among member states appears as the main outstanding issue to reach an agreement on the financial transaction tax (FTT), as Spain is still opposing the mutualisation of the resources, European officials told EURACTIV.
Watered-down Tobin tax could enter into force in 2021
EU finance ministers will discuss on Friday (14 June) a new draft proposal for a financial transaction tax (FTT), which will significantly lower expected revenues once participating member states adopt it, according to details of the text seen by EURACTIV.
EU’s ‘Tobin tax’ now expected to collect only €3.5 billon
The latest proposal for an EU financial transaction tax (FTT) received lukewarm support earlier this week, with expected revenues brought down tenfold, to €3.45 billion annually, under a watered-down version tabled by France and Germany, according to documents seen by EURACTIV.
Germany and France to outline EU financial transaction tax proposal
Germany and France will outline on Monday a joint proposal for a financial transaction tax for the European Union that is based on a model already tested in France, the Sueddeutsche Zeitung newspaper reported late on Sunday (2 December).
EU budget: Where’s the climate and environment?
Discussions on the EU's post-2020 accounts have begun. But it seems like climate, energy and the environment itself have already been forgotten in the talks, warns Damien Demailly.
Macron’s missing billions to fulfill development aid promises
The French budget dedicated to international solidarity is expected to increase by €500 million over the next three years. But the government estimates that €6.4 billion will be needed by 2022. EURACTIV France reports.
Macron relaunches financial transaction tax project, including the UK
French President Emmanuel Macron promised to allocate all future earnings of a financial transaction tax to European solidarity. But with Brexit in mind, it may be too ambitious to relaunch the project with all 28 member states. EURACTIV France reports.
French backtracking on FTT undermines development commitments
France’s development aid objectives appear to be compromised by a reduction in the base of the Financial Transaction Tax (FTT), which funds more than 20% of the country’s international solidarity effort. EURACTIV France reports.
France raises its environmental game with ambitious new climate package
With plans to make France carbon neutral and phase out fossil fuel-powered vehicles by 2040, Paris is showing new levels of ambition when it comes to the environment. EURACTIV France reports.
Belgium told to get off the fence, stop blocking FTT
EU finance ministers have presented a compromise text for the Financial Transaction Tax (FTT) and urged Slovakia and Belgium, which is accused of deliberately blocking negotiations, to ratify it. EURACTIV France reports.
FTT blockage illustrates pitfalls of multi-speed Europe
As France, Germany, Spain and Italy meet to perfect their vision of a future multi-speed Europe, the stalemate over the Financial Transaction Tax (FTT) raises the question of whether some states are capable of working together efficiently. EURACTIV France reports.
French MPs: Hollande’s presidency ‘catastrophic’ for development
Development suffered the second deepest cuts of any budget during François Hollande's term in office, just after spending on military veterans. The French government has promised to turn the ship around in 2017. EURACTIV France reports.
France strengthens financial transaction tax to fund development
France will increase its Financial Transaction Tax in an attempt to halt the decline of its official development assistance budget, which has been cut each year since 2012. EURACTIV France reports.
French MP: Banking lobby’s ‘long reach’ undermines Financial Transaction Tax
Paris hopes to capitalise on Brexit to take over from London as the EU’s major financial hub. But this ambition could undermine France's promise to broaden the Financial Transaction Tax, Eva Sas told EURACTIV France.
FTT to be pushed through ‘by the end of the year’
Plans for a European Financial Transaction Tax have not advanced since 2012. Now the Commission wants to have the project wrapped up by the end of the year, setting a precedent for an EU-wide corporation tax. EURACTIV France reports.
Hollande does U-turn, increases French development aid
François Hollande has announced an increase to France's official development assistance budget for 2017, putting an end to several consecutive years of funding cuts. EURACTIV France reports.
French development boss: 1% owning 99% of wealth ‘is not normal’
Worsening inequality is a threat to the achievement of the global Sustainable Development Objectives. To turn the situation around, the governments of developing countries must invest heavily in public services, says Philippe Orliange.
French 2016 budget exposes empty promises on development
France's numerous promises of aid for the Global South do not feature in the government's 2016 budget bill, which will finally be adopted today (16 December). EURACTIV France reports.
How the emerging economies are stealing the show at COP21
China, India, Brazil and South Africa are raising big questions over climate finance at COP21, a strategy that allows them to monopolise the limelight at other countries’ expense. EURACTIV France reports.
Ten EU states agree aspects of Financial Transaction Tax
Ten euro zone countries agreed on Tuesday on aspects of a harmonised tax on financial transactions - and gave themselves until the middle of next year to reach agreement on remaining issues, including tax rates, the group said in a statement.
France targets African renewables projects for climate finance
African countries are among the world's smallest emitters of CO2, but are on the front line of climate change. France has pledged additional funding for climate adaptation, amid accusations of recycling old money. EURACTIV France reports.
France to use 50% of FTT revenue on overseas aid
The French parliament has adopted a proposal to allocate 50% of the Financial Transaction Tax to the country's development budget, bringing to an end four years of cuts. EURACTIV France reports.