Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-094-000"

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"en.20120523.5.3-094-000"2
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"Mr President, I welcome this debate. Each week, we hear in various quarters political leaders launching such a project as if it were their own personal invention and a revolutionary idea. The fact is that five years have passed since this Parliament first voted in favour of it. There have been other votes since then. One year has passed since the Commission submitted a specific, complete project – thank you, Commissioner Šemeta – and a group of experts from the 27 governments has been working on it for six months. Let us be under no illusions as to the nature of this tax. It is an indirect tax, like VAT. It does not therefore punish the financial operators. It will be paid by their customers. However, the tax base will be so broad and the tax rate so low that it will, in fact, be uncollectable. If it is well designed in terms of its practical details, it will not have significant transaction relocation effects either. Let us be under no illusions either as to its purpose, which is twofold: to finance common European objectives and to ease the burden on national budgets. While it is true that the unanimity of the EU27 will be difficult to obtain, if an agreement is found to establish an identical tax in a significant number of Member States, its natural appropriation should be to the EU budget. Those Member States that choose this appropriation should be able to reduce their national contribution to the Community budget accordingly. They will thus have the necessary flexibility to reduce their own deficit and their debt, and too bad for the rest!"@en1
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