The so-called Robin Hood tax is continuing to generate criticism as a group of member nations tries to advance the financial transaction tax through the European Commission.
The FTT, which targets the financial sector because of its role in the current economic crisis and because of the government support received by the sector, seeks to ensure the sector pays its share through new levies on shares, bonds and derivatives. The plan was floated in the European Commission in 2011, but was scuttled when it became clear there would be no consensus on the issue as several members, including the United Kingdom, raised objections.
