Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-07-11-Speech-3-227"
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"en.20070711.22.3-227"2
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"I broadly support the Commission's White Paper on Financial Services.
I support measures which seek to tackle obstacles to the development of the EU's financial services market. However, I find it difficult to support the notion that a legislative framework for pensions needs to be supported by a harmonised tax base. It would be unwise of the Parliament to support such an assertion without the findings of the detailed technical analysis, as agreed at the last Ecofin Council. There is no evidence to suggest that linking pensions to a harmonised tax base would be good for the pensions sector.
It is not within the competence of the Commission to consider the feasibility of a legislative framework for taxation. Taxation is a matter for individual Member States.
Finally, the EU's financial stability is not under threat from alternative investment vehicles - hedge funds and private equity. I do not believe that legislation is needed in this sector. I do believe attention needs to be given to the enforcement of existing rules, market discipline and the continuous monitoring by banking regulators of this sector. I welcome the move by industry to introduce a voluntary code of conduct at the recent G8 meeting."@en1
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