Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-025-000"
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"en.20120523.3.3-025-000"2
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"Mr President, a financial transaction tax sounds like a very good idea, does it not? It plays well politically, and we can hit those greedy bankers, whom we all hate in public while we shovel money into their pockets in private. However, I do not think it is quite going to work out that way. All taxes are passed on to customers at the end of the day – sorry everybody, but that is just how it works – so again it will be the little people who pick up the tab. It will be savers, it will be pensioners and it will be ordinary folk who pick up the tab for this tax, not the greedy fat-cat bankers that you are trying to get at.
It is interesting, when you look at the small print, to see they are saying that some of the money raised can perhaps go towards saving future failed banks. So we know – we concede, do we not? – that more banks are going to fail. We know this because we have the same ridiculous, fractional-reserve banking system, the same crooked, money-printing, criminal behaviour at the central banks, and so on and so forth. So nothing has changed. This is another strong signal to bankers and politicians to continue the theft.
But beware those who think that taxing London is a risk-free game – and we mean London don’t we? When it comes to financial services, other EU countries are Mickey Mouse. Financial services account for 14% of UK GDP, and the UK contributes GBP 50 million pounds a day to this crumbling institution. Do not kill the goose that lays your golden eggs!
Zurich, Geneva, New York and Hong Kong are licking their lips wondering what piece of glorious stupidity we will come up with next. An FTT is a special tax, so what next? A special tax on sunshine holidays in Spain; high fashion in Paris; luxury cars in Germany; mobile phones in Finland; and perhaps a justifiably special tax on dreadful flat-pack furniture from Sweden? It is coming to your street next! The greedy bureaucrats just want your money."@en1
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