Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-271-000"
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"en.20120523.15.3-271-000"2
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"A tax on financial transactions is undesirable, which is why I have tabled an amendment for the rejection of this proposal. Unfortunately, the Committee on Economic and Monetary Affairs did not agree. In my amendment, I referred to the analysis of the Dutch Court of Auditors. The Court estimates that the minimum cost to Dutch banks, insurers and pension funds would be EUR 4 billion, or 0.61% of GDP. That is a huge amount considering the austerity measures our countries are now facing. Consumer spending and business investment are already under great pressure. The financial transaction tax costs a lot of money and will cost us jobs and growth, too, which is exactly why the tax burden should not be allowed to increase unnecessarily. And the last thing we need is a European tax, the revenue from which would partly go to the European Union, which is ultimately a bill that our citizens and businesses would have to pick up. This is an ill-advised proposal and I will therefore vote against it. It is right that this legislative proposal can only be approved by unanimous agreement in the Council of Ministers. A number of Member States are against the tax. Let those Member States stand firm."@en1
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