Near Victory in the European Parliament

On Thursday 20 January 2000, a resolution signed by the PES, Greens, GUE and Liberal groups, which would have called upon the (European) Commission to submit a report within six months into how a Tobin tax might be introduced, was rejected by only 4 votes out of 400 in the European Parliament.

The "Capital Tax, Fiscal System and Globalisation" Intergroup (of parliamentarians) regrets the rejection of this resolution. However, the intergroup is satisfied that a debate on the Tobin tax has been able to take place during a plenary session ... Upon the conclusion of this debate, 225 deputies supported the resolution.

The debate on the Tobin tax, the regulation of capital movements and of the damage caused by financial speculation, is spreading across the European Union and will have to be pursued within the European Parliament. The intergroup will continue to contribute and to present new initiatives in this respect over the coming weeks.

Glyn Ford and Harlem Désir (Members of European Parliament)

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Tobin Tax Initiative
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