Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-312-500"

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"I voted against the report, as it does not guarantee that a tax on financial transactions would be used for the purpose for which a true Tobin tax should be used, namely, developing countries and investments in the climate. The report is unclear about whether the tax will accrue to the EU’s budgets, which opens up the possibility of more problems. Firstly, I am fundamentally opposed to increasing the EU’s own resources. Secondly, we will be wasting an opportunity to have a genuine Tobin tax if the EU has the right of disposal of the tax – see the Commission’s proposal that the tax should finance EU projects and gaps in the EU budget. My vote should not be construed as opposition to a tax on financial transactions in the EU. I fully support a genuine Tobin tax. I also support the positive elements of the report, such as the fight against tax fraud, the ‘polluter pays’ principle and the call for energy efficiency."@en1

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