What larks with this FTT, eh?

However, the EU splinter group is now said to be considering reducing the tax rate on equity and debt, and imposing the levy solely on shares from next year. An FTT on bonds might not be introduced until 2016, and the planned levy on derivatives could be dropped altogether. The annual revenues might fall to as little as €3.5bn.

“The whole thing will have to be changed quite a lot,” an official close to the negotiations told Reuters. “It is not going to survive in its current form. You can introduce it on a staggered basis. We start with the lowest rate of tax [0.01pc] and increase it bit by bit.”

Even the politicians are waking up to what a disaster the full FTT will be.

Remember folks, you read it all here first.

2 thoughts on “What larks with this FTT, eh?”

  1. We start with the lowest rate of tax [0.01pc] and increase it bit by bit~

    Sadly no they have not woke up to the disaster it will be, they have woken up to how hard it is to introduce a disaster, nothing has changed, they still want to tax a chinese man using a japanese broker to buy shares from an american bank should he happen to choose a tainted product or have one connected to someone in the zone, they want to introduce it at the lowest rates than as was famously said:

    ” once we have introduced it we can raise the tax rate higher and higher”

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