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Europe's Financial Transaction Tax and what it means for Australians

13 March 2013

As we recover from the global economic downturn, governments around the globe continue to devise remedial packages of law and policy to ensure all financial-related undertakings are under tight scrutiny and regulation. One of the more recent developments is the European Commission’s revised proposal for a financial transaction tax (FTT), a proposal which has its roots in the global financial crisis, and whose stated objectives include exacting a contribution from financial institutions for the costs of the crisis, and seeking to deter future crises, blurring the line between revenue and regulatory measures.