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The EU budget is relatively small, at €185 billion. UK's net contribution amounts to £8 billion, a bit, but not earth shattering. This Tax won't apply to all m
by airesQ 10y ago
The EU budget is relatively small, at €185 billion. UK's net contribution amounts to £8 billion, a bit, but not earth shattering.
This Tax won't apply to all members, just to the ones that opt-in (Austria, Belgium, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain seem to be interested). And from what I understand, any revenues steaming from the tax would go to national governments and not the EU budget.
- kukx 10y ago> ... not earth shattering In 2015 the revenue from the UK constituted 15.6% of total EU revenues for that year. It's a significant share. > ... the tax would go to national governments and not the EU budget. In 2012 the Commission recommended that two-thirds of the revenues from the FTT should go to the EU budget and the remaining one-third should be retained by the EU Members. It's reasonable to think that at least some portion of this tax will go to the EU budget directly.