Dutch minister warns EC not to use Tobin tax

DUTCH finance minister Jan Kees de Jager said yesterday that he wanted the European Commission to look for alternatives to a proposed financial transaction tax, which studies had shown to be inefficient and not helpful in stabilising the financial sector.
De Jager said in a letter to parliament he wanted the commission to look for alternatives, including a financial activities tax, a bank tax, or a stamp duty.

The Netherlands, along with other European states such as the UK and Sweden, has opposed the introduction of a so-called Tobin tax.