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While previously a holdout on a Financial Transactions Tax the new coalition government of the Netherlands will join the EU initiative.
The Hague (31 Oct. 2012) – The new coalition government of the Netherlands in the agreement for governing the country have decided to join the European Union (EU) initiative for a financial transactions tax (FTT), which is commonly referred to as a Robin Hood Tax.
Previously the Netherlands, under a right-wing government, was seen as a major opponent of introducing a EU wide FTT. The inclusion of the FTT by the Labour Party and the pro-business Liberal Party as part of the coalition government agreement is a considerable achievement.
Campaigners see the change in position as a sign that the idea is gaining even broader appeal.
Under the agreement the Netherlands agrees to join the EU FTT initiative with the conditions that pension funds are unaffected, that the current banking sector won't be unduly hit by taxes and that the tax revenues flow back to the EU member states.
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