On 22 June the Party of European Socialists (PES) joined a European Action Day for a « Red Hot Chilli Tax » organised by the Belgian Socialist Party (PS). The demonstration took place in the morning next to the European Parliament. The Action called for the implementation of a tax on speculation before the Member States’ heads of state and governments gather in Brussels on 23-24 June.

As with the red chilli, the tax on speculation is small but spicy, and a small quantity – the PES asks for a tax rate of 0,05% - is enough to add real flavour to the economy. Such a tax would generate an income of 200 billion euro per year. In even more practical terms, this would mean the creation of 2 to 3 million new European jobs in one year.

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