Scholz: Financial transaction tax single-handedly if necessary

SPD candidate for chancellor and finance minister Olaf Scholz is calling for a financial transaction tax in Germany, if necessary as a national solo effort. "Our conservative coalition partner always has the idea that this has to be done in Europe, otherwise you can't do it in Germany," said Scholz on Thursday at a virtual election campaign event for the Allgäu. "That's why we need a clear message: We'll do that in any case - like in France, like in England, like in Italy and like in Spain and some other countries."

If Germany also introduces a financial transaction tax, "over 90 percent of the share transactions that take place on the trading venues" would be covered, emphasized Scholz. Germany can count on income of 1,4 billion euros from the tax. That shows how "threadbare" arguments against a national introduction are. "The delaying skirmish of the conservatives will not work much longer."

Most recently, Scholz was repeatedly dismissed from EU colleagues with a share tax. He had proposed that when buying shares in large corporations, 0,2 percent of the goodwill should be taxed. The Vice Chancellor had already planned the expected income to finance the basic pension.