Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-054-000"

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"Mr President, Ms Vestager, Mr Šemeta, it is not surprising that many European citizens are angry about the banks turning a deaf ear to calls for moderation and a reasonable approach to compensation and risk-taking. However, a transaction tax is not the right response to the citizens’ anger. It is a bad tax which risks increasing charges for ordinary bank customers, making investment in Europe more difficult, damaging growth and, as a result, jeopardising jobs. In addition, I believe that the calculation of the revenue cannot be relied on. This proposal has been under discussion for the last 40 years and it has been tried once in Europe, in my home country of Sweden. The result was that the majority of share trading moved from Stockholm to London. If a transaction tax has to be introduced, it must be introduced globally or at least throughout the entire EU. However, I think that the financial sector should pay more tax. A better model, for example, would be to introduce a stability fee for all banks. To summarise very briefly, I think that the banking and the financial sector should pay tax. It is not a problem for me, but this is a bad tax which will have a counterproductive effect. Mr Šemeta, please try again and take a new approach."@en1
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