Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-285-500"
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"en.20120523.15.3-285-500"2
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"I voted in favour because the global financial crisis of 2008 has spread to the real economies rapidly and with significant consequences, resulting in deep recession of the global economy and having a large-scale impact on employment. The necessity for bailout schemes through public funds for the rescue of ‘too big to fail’ financial institutions has adversely affected public finances significantly and led to further economic recession at a global and European level. The debate on a financial transaction tax (FTT) stems from the desire to ensure that the financial sector contributes to covering the costs of the crisis and that it is taxed in a fair way vis-à-vis other sectors in the future. It is necessary to disincentivise excessively risky activities by financial institutions and, at the same time, to complement regulatory measures aimed at avoiding future crises and to generate additional revenue for general budgets
as a contribution to fiscal consolidation, in order to stimulate growth and create jobs, or for specific policy purposes, such as development aid and fighting climate change. However, we must concentrate the taxation on the financial sector rather than on citizens! The FTT will only achieve its objectives if it is introduced at a global level and the Union should lead efforts to reach agreement on an FTT at global level."@en1
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