Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-08-Speech-1-103"

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"Mr President, with over EUR 200 billion lost annually, combating tax fraud and tax evasion in the EU must continue to be a priority for this Parliament, the European Commission and the Member State governments. I cannot believe that anyone in this House believes that a right to privacy is a right to evade tax. There is, of course, a global consensus that a lack of good governance in tax matters encourages tax fraud and tax evasion. Tax fraud has a major impact on national budgets. It robs public services, health, education and research of vital resources. Moreover, according to a major charity, tax evasion by the super-rich and by global corporations has a severe impact on the lives of more than five million children in the developing world. Governments in the poorest developing countries are being swindled out of EUR 92 billion a year in tax revenues, while the World Bank estimates that just a third of that – EUR 30 billion to EUR 34 billion – would pay for the UN’s Millennium Development Goals. More shockingly still, a UK charity, Christian Aid, maintains that around EUR 7 trillion is hidden away in tax havens. Therefore, the actions and recommendations proposed in these reports are essential to supporting a level playing field and to tackling the distortions and abuses which underpin those systems of tax evasion and fraud. Assets held offshore are now equal to a third of global assets… …half of the world’s trade passes through tax havens, and action to crack down is already being stepped up. Tax havens are under investigation, with proposals in the EU and in the OECD being taken forward. Stronger tax cooperation is the only way forward. This does not weaken national sovereignty but, on the contrary, strengthens and enhances national tax systems, stopping those who seek to undermine the integrity and functioning of those systems. If we have learned one lesson from the global financial crisis, it is that we need more openness and transparency on financial transactions. That is why I support the proposals to move towards a global agreement and standard on automatic exchange of tax information tabled by our rapporteurs. I would like to finish by saying that those who seek to water down these proposals, hiding behind scaremongering on data privacy, are neither serious nor ambitious in supporting global action to tackle the scourge of tax evasion and to promote good governance, good citizenship and social responsibility."@en1
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