Comments concerning the Proposal for a Council Directive implementing enhanced cooperation in the area of a financial transaction tax

The EACT has issued a position paper on the proposal for a Council Directive implementing enhanced cooperation in the area of a financial transaction tax (FTT). We believe that the FTT would have a serious unintended consequence - its negative impact on European companies as well as pension funds and individuals, by for example increasing the cost of funding and managing business risks and tightening credit conditions. We are therefore strongly urging Brussels to take the real economy's views into consideration in the legislative debate on FTT.