Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-190-000"
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"en.20120523.15.3-190-000"2
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"Mr President, like all British Conservatives, I firmly oppose this report and voted against it regarding the FTT within the European Union. I would be far more sympathetic if this were a global tax, which would have to include the USA, the BRIC countries, as well as the European Union Member States to be remotely viable, otherwise this is an example of economic illiteracy and anti-growth which will drive financial services away from the European Union.
London, which I proudly represent, would be hit particularly badly given its prime EU position as a centre for financial services. It is estimated that up to some 50 000 jobs would be negatively impacted, particularly if the issue of issuance goes through, which would give powers to capture London within the jurisdiction of the FTT. So this would be financial suicide for the United Kingdom, which is why Prime Minister David Cameron and the City of London will fight this measure tooth and nail."@en1
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