Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-11-25-Speech-3-391-000"
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"en.20151125.24.3-391-000"2
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"Mr President, the main constraint on a government wishing to raise taxes is international competition. You can raise your tax up to a certain point and then the money begins to flee to friendlier jurisdictions. It is a reality that is becoming more and more true as modern technology facilitates capital movement globally.
We can complain about it, we can try and legislate against it, but we cannot stop it. The only way in which we can tackle the loss of revenue as a result of tax avoidance is by making our own tax regime more attractive, which brings me to the fundamental argument against tax harmonisation. The more you centralise, the more you make it a uniform rate, the more you take away that constraint and allow governments to help themselves to more and more without any oversight.
Hands up anybody in this Chamber who thinks that harmonised taxes will be harmonised downwards?"@en1
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