Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-09-08-Speech-3-018"
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"en.20100908.3.3-018"2
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"Madam President, I want to thank and support the Commission and the Council for their work on ensuring adequate financing from the financial sector.
There are, however, a couple of issues. We support introducing a form of coordinated stability level and a fund, but when it comes to the financial transaction tax, we are talking about an entirely different and much more complex issue.
That tax, as a minimum, would have to be global to avoid tax evasion. Furthermore, a tax on all transactions might not only be technically infeasible, but would also risk making the markets more volatile and less liquid.
I have some questions on taxes. If the purpose is to generate money for global causes, which money pots does the revenue go into, and who has the responsibility for distributing the money? For a tax for a specific purpose, when do we ever know when enough is enough? Finally, the key question is who will collect the tax – the Member States or the EU? If it is the EU, far away from its citizens, how do we prevent constant rising taxes? In the real world, enough never seems to be enough when it comes to politicians’ need for additional money."@en1
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