According to the European Commission, if adopted as a new own resource of the EU budget the financial transaction tax (FTT), it will reduce Member States' GNI contributions to the EU budget by 50%. According to the estimates presented by the European Commission, Member States' contributions would be slashed by €54 billions in 2020.

The European Commission published its estimations figures on the Commission's proposal for the financial transaction tax. According to the European Institution, if adopted, the proposal will significantly reduce the contributions of Member States to the EU budget. In January 2012, most of MEPs stated their support to this proposal. Financial Programming and Budget Commissioner, Janusz Lewandowski underlined that taxing the transactions of all financial institutions at rates as low as 0.01% is only fair because financial sector does not pay VAT and has received massive support by taxpayer's money.

The Commission proposes that two thirds of the revenues of the FTT go to the EU budget, reducing by the same amounts Member States' contributions based on their GNI, with the remaining one third being retained by Member States. Therefore, every euro levied with the FTT will ultimately benefit the Member States, whether through direct revenue collection or through a reduction of contributions to the EU budget.

The financial transaction taxation could constitute a new revenue stream which would reduce Member States' contributions to the EU budget, give national governments extra room for manoeuvre and contribute to the general budgetary consolidation effort across Europe. The Commission highlights that although some form of financial transaction taxation already exists in a number of Member States, the action at EU level could prove both more effective and efficient than uncoordinated action by Member States given the level of cross-border activity and high mobility of the tax bases.