Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-07-Speech-1-076-000"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20110307.17.1-076-000"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spoken text |
"Mr President, I would like, first of all, to thank you for this very interesting debate. Opinions are divided on the question as to whether the EU should envisage introducing a financial transaction tax at EU level as a first step.
The figures that are circulating might appear attractive. However, I am convinced that we should first evaluate the risk of relocation and the consequences of such a tax for European competitiveness. As you know, financial transactions are easily relocated outside the EU. Previous examples such as in Sweden have shown that the introduction of FTT at local level could harm legitimate businesses and erode the tax base to a large extent. This was very clearly illustrated by Mr Schmidt and Mr Hökmark.
As I said in my introductory speech, I would encourage you to wait for the results of the impact assessment in order to define a well-founded position in this area. I can assure you that this impact assessment will be conducted very thoroughly. You know that in February, we launched a public consultation on this subject. At the end of March, we will have the Brussels Tax Forum, which will be completely dedicated to the issue of financial sector taxation. We are working in close cooperation with academia and the IMF on this subject, which I would like to see analysed very seriously in order to make decisions based on solid foundations.
The issues at stake are very important, and many of them were raised during this discussion, such as the impact on high-frequency trading. We also have to analyse tax incidence. Some of you raised the question of who will pay the tax. There is no obvious answer here. We also have to analyse the cost of administration; we have to analyse tax bases and many other issues which have to be taken into account in order to make a final decision.
So I would like to ask you to wait until the Commission has finalised this impact assessment. We have committed ourselves to doing this by the summer break.
Otherwise, I welcome the report which globally supports the actions of the Commission in innovative financing, in particular, in the area of carbon tax, euro project bonds and development financing. Once again, I would like to thank Mrs Podimata for her excellent report, and I wish you good voting tomorrow."@en1
|
| lpv:unclassifiedMetadata | |
| lpv:videoURI |
Named graphs describing this resource:
The resource appears as object in 2 triples