PES Finance Ministers meet to discuss the state of play on the Financial Transaction Tax



The Party of European Socialists (PES) Finance Ministers met today at the PES Headquarters in Brussels to discuss developments on the negotiations regarding the implementation of the Financial Transaction Tax. The Ministers continued their exchange on the EU’s Investment Plan and were informed of the various initiatives planned by the PES and its members. They also had the chance to exchange views on budgetary matters in view of the upcoming ECOFIN Council that will approve the Budget for 2015.

The Ministers also welcomed Pierre Moscovici to the meeting in his new capacity as Commissioner for Economic and Financial Affairs, Taxation and Customs and expressed their determination to continue the good cooperation.

The Lithuanian Finance Minister and chairperson of the meeting Rimantas Šadžius stated: "Today we focused our discussion on the state of play of the implementation of the Financial Transaction Tax. This has been a flagship demand carried by our political family for years, as a measure that will accrue new revenue and tackle financial speculation. The fact that eleven Member States have signed up to implement for the first time in Europe a common FTT is a big success for the PES".

Mr Šadžius continued: "We will continue our efforts around the FTT to see it properly implemented, just as we will remain vigilant to ensure that the EU becomes a real motor for growth and for job creation. We have managed to put the issue of investment back in the political agenda.   For us Investment was and remains a political priority, but we will not only rely on using words, we want actions. I am happy to see that our political family remains vigilant and is using all its networks to make it a reality. I am also very pleased to welcome Pierre Moscovici back in our meetings in his capacity as Commissioner for Economic and Financial Affairs, Taxation and Customs. His presence in this Commission is a reassurance for us that we can finally bring about the progressive change that millions of Europeans are asking for".

The meeting was also attended by Finnish Finance Minister, Antti Rinne, French Finance Minister Michele Sapin, Swedish Finance Minister Magdalena Andersson, Maltese Finance Minister Edward Scicluna, Romanian Finance Minister Ioana Petrescu, Slovakian Deputy Prime Minister and Minister of Finance Peter Kažimír, S&D Member of the European Parliament Maria Joao Rodrigues, and Deputy Secretary General of the PES Yonnec Polet.