Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-048-000"
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"en.20110307.17.1-048-000"2
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"Mr President, I rise to speak in favour of the financial transaction tax (FTT). The FTT provides an opportunity to redress the balance and the damage caused by the austerity measures, the deficit and the measures adopted to repay it.
It is important, though, to introduce taxation which is relevant to the current circumstances since, in the UK for example, Barclays Bank only paid GBP 113 million in corporation tax in 2009, at well below the UK rate of 28%, while the Royal Bank of Scotland allocated EUR 25 billion to tax avoidance schemes that year and cost the British and US exchequer EUR 500 million in lost revenue.
In the UK, a group has been formed to support the FTT. It is called the Robin Hood Tax group, after the legendary figure who stole from the rich and gave to the poor.
I support its campaign, and I urge Parliament to do likewise."@en1
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