Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-07-03-Speech-3-328-000"
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"en.20130703.36.3-328-000"2
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"Mr President, I voted against these plans for a financial transaction tax. I think it is now becoming clear to everyone that this is a deeply flawed project which has not been thought through properly by the Commission or those who wish to introduce it. Ultimately a tax such as this will not be paid by the bankers and the traders that everyone wants to see pay extra back to society, it will be paid by ordinary individuals through their pensions or their savings or their investments, or indeed as taxpayers who have to pay for the collection of it.
Taxing both sides of the transaction is also a blatant attempt to try and raise money from companies trading outwith the countries in the scheme, and it is no surprise that the UK Government is taking the Commission to the Court on this matter. If you are outside the transaction scheme you should not be obliged to pay the tax through this externalisation of the financial transaction tax. It is time to dump these flawed plans as they are doomed to fail."@en1
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