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Tobin Tax in Belgium

Short summary of Tobin-tax in Belgium

Background and global political situation

Tobin-Spahn law proposal has been proposed in july 2003. The Belgian federal government is a coalition of socialists Walloon, socialists Flemish, liberals Walloon, and liberals Flemish. The law proposal is backed by an alternative coalition : socialists Walloon and Flemish + Christian democrats Walloon and Flemish + green Walloon and Flemish.

The liberals are expected to try to impede vote procedure. Socialists, since they are on government with them try no transform the Tobin tax law proposal issue as a state affair.. so they try not to go to direct confrontation.

There is election on regional level this 13 June and liberals could loose a lot of share. but this is supposed to have no connection with federal (national) level. But in politics you never know and the federal level has always connection with all elections results (even regional ones).

Procedure

This law proposal must go through commission globalisation ; than to finance commission than to whole chamber

Some members of the lower house (chamber) and upper house (senate) form a new commission called globalisation commission (without a real formal authority.. so cannot pass on law proposal. it can only give recommendation). The law proposal was submitted to this globalisation commission; there has been specialists hearing and debate. A recommendation has been issued with pro and cons arguments with conclusion that this law proposal should be voted by the finance commission.

The finance commission is a formal commission of the chamber and has the right to vote a law proposal. When it is done, the text is voted in the whole chamber and become a real law.

The senate has some days to react; i.e. request that the law proposal be examined by the senate itself. in this case the law proposal goes through a commission of the senate and then to the whole senate.

Prospects

Liberals could use all procedure tricks to slowdown the process. Since there has been some hearing at globalisation commission, we hope that there will be no more hearing at finance commission but it is not sure. There could be also some requests from the liberals to amend the law proposal. they whished for example to enlarge the base on which the tax is levied (i.e. change transaction + SECURITIES TRANSACTIONS) this would request new hearings, new work to adapt text and risks to make it more difficult to be implemented in belgium or to be accepted by other countries.

If there is a real overturning in the regional pools.. then we could have a federal coalition clash and all this could put our project into trouble

On the other part some representatives told me that they expect the finance commission to vote before holidays 10 july

NEXT COMMISION FINANCE DISCUSSION ON TOBIN : 15 JULY

Fabrice COLLIGNON Tobin tax workgroup attac Belgium

Artikelinfo:

Publicerad av Attac Sverige den 1 juni 2004. Uppdaterad för 2004 dagar sedan. π

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