🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Germany's SPD mulls stock market transaction tax

Published 02/16/2009, 09:10 AM
Updated 02/16/2009, 09:16 AM

BERLIN, Feb 16 (Reuters) - Germany's Social Democrats (SPD) are considering including a tax on stock market transactions in their election manifesto, party chairman Franz Muentefering said on Monday.

The levy was being considered with a view to directing investments more towards the real economy rather than towards quick, speculative transactions on the financial markets, Muentefering said.

"This is legitimately on the agenda," he told reporters after a meeting of senior SPD officials to discuss the outlines of the manifesto.

"There is no decision on this matter yet," he added.

The Social Democrats, junior partner in an awkward coalition with Chancellor Angela Merkel's conservatives, have seen the emerging Left party lure away many of their traditional blue-collar voters and leave their support near record lows.

The SPD plans to present its manifesto in mid-April. A federal election is due in September.

Earlier this month, Finance Minister Peer Steinbrueck, a Social Democrat, told the Bild am Sonntag newspaper the SPD wanted to cut taxes for lower income groups and raise them for the rich after the federal election.

Opinion polls show the conservatives well ahead of the SPD ahead of the election. Merkel has promised to cut taxes should she be re-elected as chancellor. (Reporting by Holger Hansen, writing by Paul Carrel; Editing by Rupert Winchester)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.