The stock-take carried out at the European Parliament on the evening of Wednesday 18 January on developments in the financial transactions tax (FTT) dossier showed a clear split between the members regarding the future of the tax.
In one camp, MEPs from countries not involved in the work on the FTT reiterated that this tax should not have any impact on the markets of countries not taking part. Brian Hayes (EPP, Ireland) thanked the Maltese Presidency of the Council of the EU, which started the debate by stressing that the voices of the non-participating countries would be heard.
However, the 'Monti' report on the future of the own resources of the EU, which argues in favour of an FTT as an own resource for the EU budget, has given grist to the mill of another camp of MEPs. French Socialist Pervenche Berès, for instance, said that the FTT was needed to pay for the budget of the EU, the energy transition and external actions.
In fact, Parliament's Socialists called for this debate in December to bring as much pressure to bear as possible on the countries participating in the work, which had cancelled a long-scheduled ministerial meeting. However, it is reported that the EPP and ALDE groups rejected this proposal, officially for reasons relating to the agenda. Neither the Commissioner for Taxation, Pierre Moscovici, nor any member of the Council of the EU participating in the FTT were present for the debate.
The finance ministers of the countries participating in the enhanced cooperation on the FTT will meet next week between the Eurogroup and Ecofin. According to information we have received, the aim will largely be to ask them whether they support an exemption from the FTT for pension funds and if such an exemption should be optional or compulsory. (Original version in French by Élodie Lamer)