Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-072-000"

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"Mr President, the tax on financial transactions is extremely important for the future of the European Union. This tax will contribute to improved control of the financial sector. In the past, a lack of essential controls led to a crisis, to considerable damage caused as a result of speculation on the part of, for example, the banks. Today, the costs of the crisis have been transferred to the citizens of the European Union. In Poland, for example, there has been an increase in VAT which means that the cost of family maintenance has gone up. The introduction of the tax on financial transactions will mean that action will be taken to limit the activity of so-called tax havens. In addition to its function of disciplining the financial sector, the monies which the European Union will be able to allocate for development from its own resources will be significant. More money in the European Union budget will mean more possibilities, more funding for science, education, investment in new technology, cohesion policy and the common agricultural policy."@en1
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