EU finance tax could raise 30
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BRUSSELS, Jan 30 AFP
January 31 2013, 07:44AM
A controversial financial transactions tax to be levied by 11 eurozone nations could raise between 30 and 35 billion euros ($A38.95 billion and $A45.45 billion) per year, a European Union (EU) source says, confirming a report in the Financial Times.
The source, speaking on condition of anonymity, said the figures "are indeed the estimate" calculated by European Commission (EC) experts drafting legislative proposals to enact the tax.
If the 27 EU states had agreed to the tax it would have raised 57 billion euros ($A74.01 billion) annually.
EU finance ministers earlier this month gave a go-ahead to 11 nations to launch the tax, viewed as a way of making the finance sector pay for the economic crisis.
The 11 were authorised to go ahead under what is known as "enhanced cooperation", a rare procedure enabling a minimum of one third of EU members to work together without the rest of the soon-to-be 28 EU states when there is no general agreement.
Britain notably was opposed but did not stand in the way of the creation of an FTT, initially proposed by France and Germany, then joined by Austria, Belgium, Estonia, Greece, Italy, Portugal, Slovakia, Slovenia and Spain.