IMA: current FTT proposals will hit ordinary investors Investment Management Association | Investment Association 1 min read06 May 2014 Partner content Responding to today’s Joint Statement from 10 EU Member States on the Financial Transaction Tax (FTT), Jorge Morley-Smith – Director of Tax at the Investment Management Association – said: “No matter how it is dressed up, an FTT is a tax on savers and investors - not a tax on financial companies. It is harmful for the prospects of long-term savings, investment, and growth in the EU. The current Commission proposal could reduce the value of household savings by up to 16%. “We urge EU Member States to push back against the introduction of an EU FTT, and to demand both full transparency in negotiations and clear understanding of the impact.” Related Farage-Wary Labour MPs Urge Keir Starmer To Be Vocal About Immigration In 2025 By Tom Scotson 21 Dec Read the most recent article written by Investment Management Association - UK equity income best-selling investment association sector for sixth consecutive month