Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-274-062"
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"en.20120523.15.3-274-062"2
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"I supported this resolution because I want to see a global FTT introduced. An FTT would help stabilise the financial sector, make it more focused on long-term financing of the real economy and ensure that it makes a fairer contribution to society. The February Socialists & Democrats group study estimated that an FTT could increase EU GDP by 0.25%. The fact that the proceeds could be used both to fund the EU budget, thereby reducing Member States’ contributions – saving Ireland EUR 500 million in 2020 – and national budgets is very positive. The FTT should also be used to finance global goods, such as development and climate change. There are important issues for Ireland that need to be addressed but I do think the European Parliament does set out some good solutions in this regard, particularly on the issuance and ownership principles. These should now be examined in full by all sides. The question of whether any financial institution located outside an ‘FTT zone’ would be willing to pay the higher cost of evading rather than paying is an open one. I also welcome the proposal to have the Commission report back on the impact of an FTT by 2016."@en1
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