Sunday, February 16, 2014

Financial Transaction Tax (FTT): Malta should back EU Commission’s proposal.

The Communist Party of Malta is highly concerned with the lack of support that is being given to the European Commission’s proposal for a Financial Transaction Tax (FTT) by the majority of the Maltese candidates contesting the European Parliamentary Elections.
The Party stressed that “in order to address poverty and social inequality, the European Union need to change radically its political path and also introduce more progressive fiscal policies, such as the financial transaction tax. Otherwise, the European Union will not haveenough money to pay for policies planned at European level, such assistance to agriculture, assistance to poorer regions, and sufficient funding to address unemployment, poverty and social inequality”.
The Communist Party of Malta appeals to all candidates to support this European proposal. It is clear that to strengthen the European Social Model, Malta should not take a position against. Instead we should encourage the harmonisation of this tax. The Communists and Left Block in the European Parliament are also defending this proposal.

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