Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-17-Speech-4-195-000"
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"en.20111117.17.4-195-000"2
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"Mr President, I am conscious that these sessions have been growing longer in the last couple of months, so I wish to thank you and the staff and interpreters, on behalf of all the Members, for your patience.
During the last Commission, Commissioner Verheugen conducted a survey of the costs of European regulation. This found that the net impact was EUR 600 billion per year. According to the Commission’s own figures, the benefits of the single market are EUR 120 billion a year. So, according to the Commission – and it should know if anybody does – the single market is five times more expensive to business than the benefits it generates.
Of course, the way to reverse that balance is to scrap regulations and to cut tax, but one cannot cut tax as long as one harmonises it. Tax harmonisation will always be upwards for the most basic of reasons, which is that the main constraint fiscally on a government is external competition. One can raise tax rates up to a certain point, and then the money starts going abroad. But if one finds, through the EU, a mechanism to get around that by exporting one’s costs to one’s competitors then, of course, tax rates as a whole will rise and the continent as a whole will fall further and further behind in the world.
The one thing we could be doing is moving the rocks aside so that the grass can grow."@en1
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