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EU finance ministers still cannot agree on decisive elements of a European Financial Transaction Tax - a missed chance for a strong signal to the climate summit in Paris.

Oxfam condemns today’s decision by EU Finance Ministers to delay talks on a European Financial Transaction tax (FTT) until December. 

The COVID-19 pandemic has worsened the extreme inequality in Southern African Development Community countries, and pushed millions into poverty. Recovering from the pandemic, however, offers SADC governments a once-in-a-generation opportunity to do reduce inequality drastically and eliminate extreme poverty by 2030. 

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.