Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-192-000"
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"en.20120523.15.3-192-000"2
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"Mr President, it would be nice to have a little less hypocrisy and more honesty from our Tory colleagues across the way, since the real reason they voted against it is that over half of Tory party funds come from the financial services industry.
The EPLP supports the Robin Hood campaign for an FTT, supported by two thirds of the public. We support the principle of an FTT to tackle speculation and stabilise the economy, away from short-term profit-chasing towards the needs of the real economy. A well-designed, effective FTT can raise revenue to meet global development priorities and tackle climate change, and help fund domestic priorities. We remain committed to the campaign for an FTT, for a fair taxation policy (as has been said) for an industry which enjoys a VAT exemption in the UK of circa EUR 18 billion per year. But prioritising own resources for the EU budget is very far removed from the original and laudable aims and ambitions of the Robin Hood tax campaigners.
The EU does not have the competence or the legal base to raise financial taxes or allocate their resources to the EU budget. We therefore had to abstain on the Podimata report, but we will continue to engage constructively on an EU FTT debate, unlike the Conservative-Liberal Democrat coalition government in the UK."@en1
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