Sester: Estonia drops out of financial transaction tax plan ({{commentsTotal}})

On Tuesday, EU finance ministers discussed enhanced cooperation towards a common financial transaction tax. Estonia has now decided to drop out of negotiations for a directive on financial transaction tax.

“We have participated as a constructive partner in the enhanced cooperation to build a financial transaction tax since 2013, knowing that we must seriously weight it before implementation,” Estonian Finance Minister Sven Sester said.

He said the initial agreement on the tax has shifted from Estonia's initial goals during the talks.

“For example the tax base has been limited and the impacts of that are partly unforeseen, considering that we would be the only nation in our region who would tax the finance sector in such a way,” he said.

The European Commission proposed a tax on financial transactions already in 2011, but there was no broad based agreement. The next step was a group of 11 nations which began enhanced cooperation towards the aim. Besides Estonia, Austria, Belgium, Germany, Spain, Italy, Greece, France, Portugal, Slovakia and Slovenia also participated in the project.

The aim of the group was to work out a directive. Estonia will remain in the group and help construct the tax, but will no longer have a vote in the group.

Editor: J.M. Laats

Easter Monday a public holiday? But you're forgetting productionEaster Monday a public holiday? But you're forgetting production
Estonia’s Easter Monday time loop: Discussing an additional day off

Every year, Estonia reliably asks itself the question whether or not Easter Monday should be made a public holiday. Opinions differ. While one side emphasizes the importance of family time, the other thinks an additional day off would threaten economic growth.

Minister of Social Protection Kaia Iva (IRL).Minister of Social Protection Kaia Iva (IRL).
Samost: Kaia Iva’s charisma could help IRL out of long-term low

In Sunday’s “Samost ja Rumm” radio debate show, editor-in-chief of ERR’s online news, Anvar Samost, and journalist and former politician Hannes Rumm discussed the potential and actual candidates for the chairmanship of the Pro Patria and Res Publica Union (IRL). At the time of the broadcast, Helir-Valdor Seeder had not yet made his intention to run public.