France, Germany to Lobby for Financial Transaction Tax

France and Germany will seek to persuade EU member states to back the bloc’s proposed financial transaction tax at the July 9 Council of Economic and Financial Affairs meeting.

Ten European Union member states have already agreed to the broad terms of the FTT but haven’t finalized how to use the revenue. France and Germany are expected to propose enacting a 0.2% tax on equity trades in the EU from 2021.

• “France and Germany will make the case to get all EU member states to back an FTT and use the revenue for the EU budget,” said a Finnish diplomat, ...