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A well designed Europe-wide financial transactions tax could be a powerful source of revenue for the EU budget

Begg, Iain (2012) A well designed Europe-wide financial transactions tax could be a powerful source of revenue for the EU budget. LSE European Politics and Policy (EUROPP) Blog (31 Mar 2012) Blog Entry.

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Abstract

What would be the implications of a financial transactions tax in Europe? While the French argue such a tax would help stabilize the debt crisis, the British believe that the instrument would prompt an exodus of financial activity to other parts of the world. Iain Begg argues that the latter argument may not hold, and that the tax could become a source of revenue for governments if introduced as a ‘tax for Europe’. There has been much debate in recent months about a financial transactions tax (FTT), with some Member States, notably France, very keen to see its introduction, while others are more sceptical. Given the prominence of the City of London in its economy, the UK, not surprisingly, is opposed to the introduction of such a tax in the European Union because of fears that it would prompt an exodus of financial activity to other parts of the world. For the UK, the argument is that unless a global FTT (which it claims to support) can be introduced, imposing such a tax unilaterally in Europe would be tantamount to an own goal.

Item Type: Website (Blog Entry)
Official URL: http://blogs.lse.ac.uk/europpblog/
Additional Information: © 2012 The Author
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
J Political Science > JN Political institutions (Europe)
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
Sets: Departments > European Institute
Collections > LSE European Politics and Policy (EUROPP) Blog
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 17 Sep 2012 08:39
URL: http://eprints.lse.ac.uk/45881/

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