Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-07-03-Speech-3-319-000"
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"en.20130703.36.3-319-000"2
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"Mr President, last week the EU Summit pledged to promote growth and jobs yet just a few days later here we are voting what amounts to a tax on growth.
The EU financial transaction tax (FTT) will kill jobs and have a negative effect on the economy and, worse still, the tax will not bring in anything near the EUR 35 billion a year the Commission thinks it will. We are throwing a dog a stick and instead of fetching the stick the dog is turning around and biting us in the leg. The business of international finance can be undertaken anywhere in the world.
The European Union is lucky enough to have financial centres in Frankfurt, Luxembourg and, of course, my constituency of London. But amongst the world’s top five global financial centres only London is in the EU. If the EU continues with its foolish plan for a FTT, how long will it be before we see more businesses moving to Hong Kong, Singapore or Tokyo? The EU needs to be competitive and not surrender its financial services to the rest of the world."@en1
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