Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-278-500"
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"en.20120523.15.3-278-500"2
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"In general, we support the proposal to create a financial transaction tax; we have long been advocating it. Whether as an instrument that provides a certain amount of tax justice or as a tool for combating financial speculation, it is necessary, albeit insufficient on its own. However, we do have some reservations about, and disagree with, certain specific aspects of this proposal. Although these reservations and disagreements had no bearing on how we voted, they may strongly influence our position in the later stages of this debate, for example, in relation to managing the revenue to be collected with this tax. That issue falls outside the scope of this directive, but that did not stop the majority in Parliament from including it; that is unacceptable. We consider the principle of revenue from the tax replacing part of the national contributions to the EU budget, thereby reducing the Member States’ direct contributions, completely unacceptable. This principle will result in continued penury budgets, while relieving the burden on richer countries with higher GNI, including those with bigger transactions markets, thus undermining the redistributive function of the budget and, with it, the – never realised – principle of economic and social cohesion. We also disagree with the relatively favourable treatment given to derivatives, which are more prone to speculation."@en1
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