Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-12-03-Speech-3-094"
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"en.20081203.13.3-094"2
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"Mr President, Commissioner, ladies and gentlemen, by preparing a rescue and recovery plan for the European economy, the European Union is giving an initial message to its citizens, in addition to the markets. There is great anticipation and we cannot disappoint expectations. At a time when financial consolidation and the level of public debt are liable to be adversely affected by public intervention, both in terms of the resources actually given and those guaranteed, in an effort to rescue the major financial and industrial players, with the obvious repercussions for public finances and personal income, we need a coordinated approach at European level, also to combat tax evasion and tax havens. It is important that all the appropriations and national plans are strictly and efficiently coordinated and targeted at the same objective.
I am pleased to point out that there are plans to clarify the flexible application of the Stability Pact, which must be targeted, temporary and appropriate, featuring mechanisms aimed at structural changes, the efficient allocation of public funds, restructuring of public expenditure and investments for growth in line with the Lisbon Strategy's objectives, focusing particular attention on the role of small and medium-sized businesses. The joint approach must also cover macroeconomic budget policies, as well as salary policies and a gradual, sharp reduction in the tax burden on labour and pensions. This must be implemented using tax deductions, revised tax rates and compensation for fiscal drag in order to reduce poverty, and not just extreme poverty, and to promote consumption and economic growth by providing a counter-cyclical response to the current economic crisis which presages a recession. But on a note of caution, the task of maintaining incomes and relaunching consumer demand must be carried out, with the focus actually on environmental and social sustainability, thereby avoiding the need to blindly reproduce models and systems which have demonstrated all their weaknesses."@en1
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