Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-114-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2012-05-23"^^xsd:date2
dcterms:Is Part Of	lp_eu:Common system for taxing financial transactions (continuation of debate)2
dcterms:Language	"pl"^^xsd:language2
lpv:document identification number	"en.20120523.5.3-114-000"2
lpv:hasSubsequent	lp_eu:2012-05-23-Speech-3-110-0012
lpv:speaker	lp:Sławomir Nitras2
lpv:spokenAs	unknown; Platforma Obywatelska (2009-07-14--2014-06-30)3 substitute; PECH (2012-01-19--2014-06-30)3 member; EPP (2009-07-14--2014-06-30)3 substitute; Delegation for relations with the countries of Southeast Asia and the Association of Southeast Asian Nations (ASEAN) (2011-09-29--2014-06-30)3 member; Delegation to the EU-Russia Parliamentary Cooperation Committee (2009-09-16--2014-06-30)3 member; ECON (2012-01-19--2014-06-30)3
lpv:translated text	"The global economic and financial crisis has seriously affected the economies and public finances of the Member States. There is no doubt that the financial sector had an important part to play in causing the economic crisis; however, the costs of the rescue programmes have been borne by central budgets, or, in other words, European taxpayers. There is a broad consensus in Europe and in the international arena that the financial sector should participate to a greater extent in the cost of rescue programmes. Fiscal intervention is also justified by the relatively low taxation of the financial sector compared to other sectors of the economy. The Commission’s proposal for a directive on a common financial transaction tax gives concrete form to these considerations. The European Union is thus the first in the G20 group to put forward a constructive regulatory proposal in this area. I think that the proposals tabled by the Committee on Economic and Monetary Affairs are useful. As well as the rule of location, it is worth noting the introduction of an additional criterion of issuance in defining a transaction subject to taxation, the exemption from taxation of pension funds, and the establishment of preferential rates for trade in regulated markets. However, I think the amendment submitted during the plenary session regarding the exclusion of investment funds from taxation is detrimental. In my opinion, this proposal distorts the idea of a financial transaction tax, since it excludes a large group of financial institutions from taxation and thus reduces the effectiveness of the regulation."@en1

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