Monday, 31 October 2011
That the Senate—
(a) notes that:
(i) a number of submissions to and participants at the recent tax forum called for the global introduction of a financial transaction tax, and
(ii) the European Parliament has voted to support introducing a financial transaction tax and that the European Commission has proposed it be levied at a very low rate of 0.1 per cent on transactions in shares and bonds and 0.01 per cent on derivatives trading; and
(b) urges the Government to support further discussion of a global financial transaction tax at the next G20 meeting.
The Senate divided. [15:53]
(The Deputy President—Senator Parry)