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“Better late than never” financial tax a step in the right direction

12/12/2012

“Better late than never” financial tax a step in the right direction

Time

"While it comes thirty years late, it's better late than never" Portuguese GUE/NGL MEP Marisa Matias said after today's European Parliament vote to green light proposals for 11 EU member states to go ahead with a financial transactions tax (FTT).


"This tax represents the most elementary justice: financial capital has to contribute to pay for the turmoil it instigated. It must be borne in mind that the figures being tossed around remain a great deal less than what citizens contribute and what they have been forced to sacrifice during this crisis."

"We know very well that this rate does not solve the problem of speculation, we know there are many areas that remain outside the tax, but we also know that it could generate extra resources. These resources should go to the most disadvantaged sectors of the population."

MEPs voted for an agreement on the tax earlier this year but the 27 member states couldn't come to an agreement on the issue so 11 countries have requested to advance under the enhanced cooperation procedure.

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