FTT can severely undermine investment and competitiveness

Markus J. Beyrer sent a letter on the financial transaction tax to ECOFIN President, Jānis Reirs, all ECOFIN Ministers, COREPER II, as well as to European Commission President Jean-Claude Juncker, Vice-President Jyrki Katainen and Commissioner Pierre Moscovici. BUSINESSEUROPE shares the commitment by both the Council and the Commission to place investment and competitiveness at the heart of the EU agenda. Evidence has shown that pursuing a financial transaction tax can severely undermine this objective and distort the single market.