Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-23-Speech-3-191-000"

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"Mr President, the British Labour delegation has worked with NGOs and trade unions over a number of years to campaign for a fair tax on financial transactions. This has the support of two-thirds of the British public. Yet today we had no option but to abstain on the final vote on the Podimata report. The campaign for a tax on financial transactions has always been about supporting the fight against poverty, unemployment and climate change at home and abroad, as well as stabilising the economy with a shift away from short-term profit towards the needs of the real economy. It was never intended to provide funds for the EU budget. We are committed to continuing our work with the trade unions and NGOs for a fair policy on taxation of the financial services industry, which enjoys VAT exemption worth GBP 18 billion in the UK. By including the issue of own resources, the Podimata report has hijacked a great idea and a great campaign. Therefore, with a heavy heart, we are unable to give it our full support."@en1
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