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Oxfam reaction: EC President Barroso on Financial Transaction Tax at G20
European Commission President Jose Manuel Barroso said today at the G20 that he expects agreement on a Financial Transaction Tax (FTT) to be reached soon.
Oxfam spokesperson Luc Lampriere said:
“Last year an FTT was just an idea, now in Europe it has become a reality. The G20 needs to applaud this move as they’ve failed to secure badly-needed financing for development and climate change.
“Now the G20 must make sure Europe doesn’t keep this money for itself. Proceeds of the tax must go to global development efforts and helping poor countries adapt to climate change."
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Notes to Editors
* He is expecting a Financial Transaction Tax to become a reality, at the EU and if possible the global level
* The FTT with other innovative ways of financing development will be a contribution to global solidarity
* He expects Europe to come to a decision soon on agreement on an FTT
* He said will raise this point at Rio, and “we will not forget the poorest of the world”.