BERLIN - The financial transaction tax on share dealing that 10 European countries hope to introduce from 2021 could be extended to cover trading in riskier assets, German finance minister Olaf Scholz said.
But Scholz told the Funke newspaper consortium in an interview to be published on Saturday that extending the tax to other asset classes would require a broader European consensus. Separately, Scholz told the newspaper that he hoped to secure agreement with Germany’s states for an agreement that would relieve heavily indebted municipalities of their most crippling debts, freeing them to invest again.
this should help London retain its leading position
Finally, someone is trying to curb asset bubbles and market instability. But I am surprised how low the tax is; it could easily be raised to 0.5%. It's a great start but it should also apply to speculative transactions.
In other words, if you live in Germany you’re about to get screwed