Financial Transaction Tax Could Impact EU’s GDP

The proposed Financial Transaction Tax (FTT) would negatively impact the European Union’s GDP, according to a recent review report from PwC. Pricewaterhouse Coopers LLP has been commissioned by Futures and Options Association to produce an independent literature review of FTT. In its review report, PwC points out households and non-financial businesses could also be impacted by the proposed FTT. EU-11’s Financial transaction tax proposal European Commission tabled an initial proposal in 2011 for implementing a harmonized Financial Transaction Tax in the EU to cover a wide range of financial transactions. Eleven member states, known as EU-11 were granted permission to…