Corporate Europe Observatory

Exposing the power of corporate lobbying in the EU

Peers reject "flawed" EU transaction tax

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LONDON (Reuters) - Britain must veto European Union plans to tax financial transactions as they are flawed and would likely prompt banks to relocate, a House of Lords' report said on Friday.
[...]
A report from Corporate Europe Observatory (CEO) released on Thursday said the financial industry had been successful in mounting a "full scale scaremongering lobby" against the tax.
"With the proposals now to be decided by the EU Council, which requires unanimity on taxation issues, Europe's financial transaction tax looks destined for the dustbin," said CEO, which tracks EU-focused lobbying.
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The Guardian
 

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The Alliance for Lobby Transparency and Ethics Regulation (ALTER-EU) has today launched two new publications aimed at improving ethics and transparency in the European Parliament.
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There are daily meetings between the financial lobby and the Commission, and they’re mainly about issues crucial to society at large. Despite this, the public is only able to access piecemeal information on what is discussed, and even then with unacceptable delays. Given the huge impact the financial sector has had on society, keeping this lobbying behind closed doors is deeply problematic. Transparency reform is needed.

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