Governments Respond
Legislation

Belgium

legislation passes.

Senator Jean Cornil and Deputy Karine Lalieux submit a bill to institute a tax on the international movements of capital ranging from 0.01% to 0.1%.  This tax would become effective when a majority of Euro-zone member States will have adopted similar measures.

France

The National Assembly adopts, with the support of the Government, an amendment to the 2002 Finance Law that institutes a tax on transactions on the currency markets at a rate of between 0.01% and .1% that will be enforced when similar laws are adopted by other countries in the European Union. This is the first piece of legislation in the world that would implement a Tobin-type tax.