As EU Finance Minister’s gather today in Brussels to discuss plans for a financial tax transaction, Sinn Féin’s Dublin EU candidate Lynn Boylan has called on the Finance Minister Michael Noonan to pursue a Tobin Tax on financial transactions to reduce poverty in the developing and overdeveloped world.
The Dublin EU candidate said:
“Sinn Féin has long advocated for a Tobin Tax on financial transactions with revenue being used to reduce poverty in the developing and overdeveloped world.
“However the plan being discussed today by member states Finance Ministers is a far cry from the progressive proposal as set out by Professor James Tobin in the 1970s.
“It is our firm view that the European Commission should not have independent revenue raising powers. We are also concerned that it is very clear that the revenue raised will not be used for poverty reduction.
“Sinn Fein will continue to campaign for a tax on financial transactions as originally designed by Professor Tobin.”