Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-10-Speech-3-254"
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"en.20100310.19.3-254"2
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"For me, it is an unavoidable truth that the financial sector should contribute fairly to the recovery and development of the economy, especially given that considerable costs and the consequences of the financial crisis were borne by the real economy, taxpayers, consumers, the public sector and society as a whole. A potential tax on financial transactions could reduce the immense volume of speculation capital that has again had a detrimental impact on the real economy recently, and thus also represent a step towards sustainable growth. However, before we consider introducing such a tax, we must carefully weigh the pros and cons. That process is exactly what the resolution proposed by the Committee on Economic and Monetary Affairs is calling for, which is why I voted in favour of the resolution. A crucial point that is only mentioned in passing in the text but that must be clearly defined before a decision is made is the potential use of the capital that could be generated by such a tax. I believe that the tax must be levied where the transaction takes place, and must also, in other words, benefit the States on whose territory the relevant stock exchanges are located. The exact method of calculation still has to be specified. If the EU insists on levying the tax itself, it must, in any case, be offset against the gross contribution of the Member State in question. Under no circumstances may it be allowed to lead to a tax competence on the part of the EU."@en1
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