Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-02-19-Speech-4-016"
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"en.20090219.3.4-016"2
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"Madam President, I do not hold with the notion that our economic salvation lies in tiny value added tax cuts, which are something we have had in the United Kingdom with, frankly, only a marginal positive impact. However, I do accept that reducing the taxation burden is an instrument of economic stimulation. Thus, this proposal – very modest as it is – whereby cuts in VAT would be possible in some sectors, is welcome so far as it goes.
I would have much preferred it to have gone further, beyond the realms of tokenism. Extending it to embrace house renovations and repairs would be its greatest asset, because stimulation of the hard-pressed construction sector is very much required, and, to achieve optimum effect, that concession should not be restricted to energy efficiency measures only. Construction needs help right across the board, not just on a selective basis.
Making it possible for Member States to act in making these marginal cuts in VAT would only be half the battle because in many cases – my own country included – hard-pressed Chancellors of the Exchequer with diminishing revenue resources will perhaps be hesitant and will have to be persuaded to act. Even I would have to concede, though, that on VAT issues such as those covered by this report, they would at least not have the excuse of blaming Brussels if they failed to follow through on what is permitted under these proposals."@en1
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