Die Linke and DGB demand German financial transaction tax

The political party Die Linke and the German Trade Union Confederation (DGB) are calling for the introduction of a financial transaction tax in Germany. This push comes in response to a lack of progress on similar measures at the European Union level.

Die Linke's financial policy spokesperson, Christian Görke, highlighted the risks of high-frequency trading, noting that thousands of transactions and massive sums of money are moved within milliseconds. He proposed a national transitional solution with a tax rate of 0.1 percent, similar to the rate advocated by the EU. The party suggests that the resulting revenue could be used to fund investments in renewable energy and the expansion of the rail network.

Janis Ehling, federal managing director of Die Linke, stated that the measure is necessary to protect security and prosperity by regulating financial markets. The DGB has also expressed support for the initiative. Stefan Körzell, deputy chairman of the DGB, urged the federal government to fulfill its commitment to the tax as outlined in the coalition agreement, noting that the revenue could reduce pressure on the federal budget without burdening ordinary citizens or the real economy.