EU: Eurozone Financial Transaction Tax Debate

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Department: HM Treasury

EU: Eurozone Financial Transaction Tax

Baroness Wheatcroft Excerpts
Tuesday 5th March 2013

(11 years, 8 months ago)

Lords Chamber
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Lord Newby Portrait Lord Newby
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My Lords, the noble Lord needs to understand the difference between a tax which we would levy, where there is a veto, and a tax which we would help collect, of which there are a number of existing examples in EU law and this would be another.

Baroness Wheatcroft Portrait Baroness Wheatcroft
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My Lords, does my noble friend agree that a tax which was to some extent a deterrent on frequent trading—for instance, algorithmic trading—might not be such a bad thing if it encouraged long-term investment in shares?