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30/10/2012
Childers Welcomes Dutch Govt's Support For FTT
Nessa Childers MEP. today welcomed the new Dutch government's support for a financial transaction tax (FTT), under certain conditions.
She said: "It is great to see the Dutch Labour Party take a strong stand on this issue and force the ruling Liberals to change the Dutch position from outright opposition to conditional support. The new Dutch programme for government commits the Netherlands to conditional support for the FTT.
"The financial sector was a major cause of the crisis and yet has received over €4 trillion in public support in recent years in Europe. The Commission says this tax would save Ireland over €500 million.
"The FTT is now proceeding under enhanced-cooperation procedures with 11 member states signing up so far. Those member states alone with share the billions of euro in expected revenue.
"If the proposal includes the 'residence', 'issuance' and 'ownership' principles, they make the risk of relocation of activity from the IFSC very low, as firms would have to stop completely serving the European market to avoid the tax.
"The Irish financial sector provides thousands of good jobs and much needed tax revenue. It is absolutely correct that we work for a strong and sustainable Irish financial sector. However there is no independent evidence to backup claims of possible negative effects of the proposed tiny 0.1% tax in Ireland."
(CD/GK)
She said: "It is great to see the Dutch Labour Party take a strong stand on this issue and force the ruling Liberals to change the Dutch position from outright opposition to conditional support. The new Dutch programme for government commits the Netherlands to conditional support for the FTT.
"The financial sector was a major cause of the crisis and yet has received over €4 trillion in public support in recent years in Europe. The Commission says this tax would save Ireland over €500 million.
"The FTT is now proceeding under enhanced-cooperation procedures with 11 member states signing up so far. Those member states alone with share the billions of euro in expected revenue.
"If the proposal includes the 'residence', 'issuance' and 'ownership' principles, they make the risk of relocation of activity from the IFSC very low, as firms would have to stop completely serving the European market to avoid the tax.
"The Irish financial sector provides thousands of good jobs and much needed tax revenue. It is absolutely correct that we work for a strong and sustainable Irish financial sector. However there is no independent evidence to backup claims of possible negative effects of the proposed tiny 0.1% tax in Ireland."
(CD/GK)
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