The Green Party supports the call for implementing a Financial Transaction Tax (FTT). According to Karoline Otte, a Green politician and member of the Parliament’s Finance Committee, this tax would help achieve greater tax fairness within Germany and generate crucial extra income for public funds, noting that several proposals could be put into effect immediately by the federal government. However, she also stressed the importance of thinking and acting collectively at the European level for such a tax to be effective.
The concept of an FTT is viewed as a way to improve tax equity, primarily because it would tax those who move significant amounts of money on the stock market.
Earlier, the Left Party had campaigned for a 0.1 percent tax at the EU level. Since the legislative process at the European Union level has stalled, Christian Görke, the Left Party’s financial policy spokesman, has advocated for a nationwide transitional solution in Germany, also at a rate of 0.1 percent. He emphasized that the revenue generated could be vital for supporting much-needed additional investments in expanding the rail network and promoting renewable energy sources.
