sciopero contro la Tobin Tax ; o si fa ora o morti per sempre

[Cagliostro]

Sept. 28, 2011, 11:47 a.m. EDT
Industry hits EU's 'misguided' transaction tax


By Richard Partington
Financial experts and trade associations have been quick to condemn the latest plans by the European Union to introduce a financial transactions tax from 2014 in an effort to raise EUR57 billion.
The European Commission outlined its proposal for a tax on financial transactions on Wednesday, targeting trades of shares, bonds and derivatives in a move that is likely to run into opposition from some governments.
Industry figures criticized the plans as counter-productive.
Julie Patterson, director of authorised funds and tax at the Investment Management Association, warned that such a tax would "penalize ordinary long-term savers" and would drive institutional fund managers out of Europe.
She said: "Ordinary European investors will get hit, while the very high net worth individuals and institutional funds will just move their business outside of Europe.
"The tax would happen at every level. It isn't just the investment banks selling something and the fund or individual buying it. It's on every party in the chain."
She added that "a lot of technical work" would be needed before the tax would be workable, but said of the latest details: "Having understood what their objectives are and what they're proposing - it won't deliver it. It'll simply penalise ordinary long term savers."
The British Bankers' Association said: "Financial transaction taxes are not taxes on banks - they are taxes collected for governments by banks. Banks conduct transactions for their customers, therefore any tax on transactions would be an additional tax on customers."
The European Commission is proposing a financial transaction tax in order to generate additional tax revenue and to encourage long term investment in financial markets, in an effort to prevent volatility.
But Sam Bowman, head of research at the Adam Smith Institute, said a financial transaction tax would have the reverse effect.
He said: "A financial transaction tax would increase volatility. When you have lots of small trades they move towards a fundamental price, each time generating new information on what a price ought to be. By reducing the number of trades you're causing people to wait until they have absolute certainty on a price, or really have to make the trade. It's bad for everybody as people wouldn't be able to react to small changes in the situation."
He added that it was "misguided" for European leaders to believe considerable revenue could be generated from the tax.
Simon Lewis, the chief executive of the Association for Financial Markets in Europe, urged Europe's leaders to reject the proposals as they would "have the effect of hampering economic recovery and future growth."
Alex McDonald, chief executive of the Wholesale Market Brokers' Association, added: "The proposed financial transaction tax will damage the competitiveness of Europe, hinder economic recovery and increase the level of risk in the financial system. It is an expensive and counter-productive attempt at achieving poorly defined objectives."
Simon Andrews, commodities & prudential regulation manager at the Futures and Options Association, said: "What is inevitable is that any such tax would reduce liquidity and increase transaction costs, providing even more incentive, beyond the bare tax itself, for business to relocate."
He added that the European Commission proposals could do "little more than waste the EU budget", as long as the U.K. and other countries oppose the tax.
The European Commission said in a statement earlier today that trades of shares and bonds would be taxed at a rate of 0.1%, while the rate for derivative contracts would be 0.01%, adding that it has recommended the tax to come into effect starting January 2014.
"The tax would be levied on all transactions on financial instruments between financial institutions when at least one party to the transaction is located in the EU," the commission, which has executive powers in the 27-country bloc, said in a statement.
The tax has the potential of raising EUR57 billion, part of which would be used to beef up the EU budget, it said.
The tax would require the unanimous backing of all EU member states. U.K. Chancellor George Osborne has said in the past that he is opposed to such a tax.
Web site: www.efinancialnews.com

Fonte
http://www.marketwatch.com/story/ind...tax-2011-09-28

[pidi10]

A leggere tutto questo viene in mente che la proposta nasce da un senso di totale impotenza e disperazione da parte delle autorità Europee.
A me sembra solo fumo negli occhi per prendere tempo.

[Mauro]

http://brunoleonimedia.servingfreedo..._191_Rocca.pdf

Analisi illuminante e lucida.
Grazie.

[Cagliostro]

Per chi desiderasse approfondire l'esperienza di Tobin Tax svedese suggerisco questo link governativo del Canada
http://dsp-psd.pwgsc.gc.ca/Collectio...BP/bp419-e.htm