For Media

Hotels for Press
Accommodation levels in Rio de Janeiro are anticipated to be at full occupancy during the conference. While it is not the responsibility of the United Nations to procure accommodation for the media, it should be noted that the Brazilian national organizing committee for Rio+20 has committed to blocking a minimum of 500 hotel rooms in Rio de Janeiro for media covering the conference. Costs must be covered by the media. For more details, visit: http://www.rio20.gov.br For information regarding room availability please contact: Terramar Travel Agency

Emails: reservas2@terramar.tur.br or reservas4@terramar.tur.br or reservas8@terramar.tur.br

Tel: (+55+21) 35120067 or (+55+11) 30142042 or (+55+19) 35145600

Media representatives must present their approval letter and copy rio20.hoteis@itamaraty.gov.br when requesting their accommodations.

Information

MEPs, NGOs hail Tobin tax proposal
The European Commission officially presented its proposal for a Financial Transactions Tax (FTT) on 28 September, to the acclaim of the European Parliament's largest political groups, trade unions and development NGOs. The business community and British Conservatives were among those who voiced their opposition in the absence of a global FTT.

Commission President Josť Manuel Barroso highlighted the proposal during his annual State of the Union address to the European Parliament in Strasbourg saying that "in the last three years, member states - I should say taxpayers - have granted aid and provided guarantees of ?4.6 trillion to the financial sector. It is time for the financial sector to make a contribution back to society."

As proposed, the FTT - often known as a Tobin tax or Robin Hood tax - would tax the exchange of shares and bonds at a rate of 0.1% and would tax derivative contracts at a rate of 0.01%. The Commission estimated this would raise ?57 billion in revenue each year, to be split between the EU and the member states.

The tax, which would come into effect in 2014, would affect all transactions where one party is within any of the EU's 27 member states.

Though the proposal was praised by a wide variety of stakeholders in Brussels, it faces numerous hurdles before it could be adopted. In particular, many in the business community and certain member states, notably the United Kingdom, have made known their opposition to a European FTT, fearing it would force the financial operations to relocate out of Europe.
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