Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-03-10-Speech-3-161"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2010-03-10"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20100310.19.3-161"2
lpv:hasSubsequent	lp_eu:2010-03-10-Speech-3-1622
lpv:speaker	lp:Kay Swinburne2
lpv:spoken text	"Mr President, the ECR recognises that the financial services industry cannot expect to escape from the crisis scot free. Enormous damage has been done through reckless behaviour, and the cost of sorting out the mess must be borne by those involved. Furthermore, new systems must be put in place to ensure that this never happens again, and that funds are available for emergency purposes to stabilise systemic failures. It is possible that in the context of international agreement, the time has come for some financial transaction tax. Whatever the doubts about the practicalities of putting such a system into place, no measure should be ruled out as long as it has the backing of the whole international community and as long as safeguards are there to ensure that it works and cannot be avoided. Most of today’s resolution has our backing, but we take exception to paragraph 7 for two reasons. First of all, we oppose new tax-raising powers for the European Union. This paragraph – carefully worded though it may be – suggests that this is a desired outcome. Secondly, the whole point of a financial transaction tax should not be to raise money for pet projects, no matter how worthy. Instead, it must be to ensure future financial stability and to protect against the kind of events that have caused the recent economic chaos. This resolution, as it stands, is too focused on a transaction-tax solution, implies EU, not Member State, tax-raising powers, suggests utilising the money raised for funding development and climate-change projects instead of stabilising the financial sector and, finally, suggests that an EU tax might be feasible without global participation. For these reasons, we have voted against this specific motion for a resolution."@en1
lpv:spokenAs	member; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2012-03-27)3 substitute; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2009-09-16--2014-06-30)3 substitute; Delegation for relations with the Palestinian Legislative Council (2009-10-19--2014-06-30)3 substitute; AFET (2009-09-07--2010-06-23)3 unknown; Conservative Party (2009-07-14--2014-06-30)3 member; ECON (2009-07-16--2012-01-18)3 member; Special Committee on the Financial, Economic and Social Crisis (2009-10-08--2011-07-31)3 member; PECH (2009-07-14--2014-06-30)3
lpv:unclassifiedMetadata	"Kay Swinburne,"1 "on behalf of the ECR Group."1
lpv:videoURI	<go to Events_and_structure europarl>2

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