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Vienna, 28 September 2011 Fekter welcomes Barroso´s announcement of financial transaction tax Commission takes up initiative of Austrian Finance Ministry

"I welcome the announcement by EU Commission President Barroso that he wishes to introduce a financial transaction tax," declared Austrian Finance Minister Maria Fekter on the occasion of today's speech by José Manuel Barroso in the European Parliament.

"By doing so, the Commission is taking up an initiative of the Austrian Ministry of Finance, since it was the Vice-Chancellor and Finance Minister Josef Pröll who introduced a concrete concept for a financial transaction tax at the informal Ecofin meeting held in Brussels at the end of September 2010. The Commission is now taking up this concept," adds Fekter.

"Taxpayers have made a substantial contribution towards stabilizing the financial sector in the whole of Europe. It therefore makes sense in economic terms, in order to avoid future crises, if the sector itself now also makes a contribution by way of a financial transaction tax in order to cover the costs of the crisis," the Austrian Finance Minister concludes.