John Vella, Senior Research Fellow, gave evidence to the House of Lords EU Sub-Commmittee A (Economic and Financial Affairs and International Trade) on the proposed Financial Transaction Tax (FTT). The full session of the Committee can be watched on Parliament TV.
His evidence was based on a paper he has written with Clemens Fuest and Tim Schmidt-Eisenlohr that will appear in the next issue of the British Tax Review, to be published in December 2011.
The paper was mentioned in an article in The Daily Telegraph:
But what of the other aims? Here an excellent paper, about to be published by the Oxford University Centre for Business Taxation in the British Tax Review, should be required reading. In it the authors, Clemens Fuest, Tim Schmidt-Eisenlohr and John Vella, delicately fillet the FTT and reveal why that happy band with the banners outside St Paul’s, ably supported by Bill Nighy (an actor) and Nicolas Sarkozy (the president of France), may be pointing their tanks in the wrong direction.