Today the European Parliament's key Economic and Monetary Committee voted overwhelmingly in favour of the Financial Transaction Tax

Monday, June 17, 2013

For immediate release:

Today the European Parliament's key Economic and Monetary Committee voted overwhelmingly in favour of the Financial Transaction Tax: 30 for, 12 against and 3 abstentions. 

The main issue was how comprehensive to make the coverage of the tax – for example whether pension fund trading and derivatives should be covered – and the majority in the Committee opposed any exemptions.

Simon Chouffot, spokesperson for the Robin Hood Tax campaign, said:

“It's great news that MEPs have faced down the special interests of financial sector lobbyists and delivered this show of support for a robust FTT.

“With other countries on course to agree a tax that will raise billions to protect services, the UK Government's efforts to protect its friends in the City are putting it on the wrong side of history.”

For more information contact:

Simon Chouffot: 07725 879 580 simon@robinhoodtax.org.uk

Jon Slater: 07876 476 403 jslater@oxfam.org.uk

Notes to editors:

The vote took place today, Tuesday 18 June 2013. For more information please see: http://www.socialistsanddemocrats.eu/newsroom/compromise-reached-tobin-tax-european-parliament

The Robin Hood Tax campaign is a coalition of 117 UK organisations including Barnardo’s, Comic Relief, Oxfam, Friends of the Earth, Stamp Out Poverty and the TUC: www.robinhoodtax.org.uk.

The campaign has more than 250,000 supporters and is endorsed by over 1,000 economists and politicians from all main political parties.

The campaign is calling for financial transaction taxes to help tackle poverty and climate change, at home and abroad.