Skip to comments.Barroso defends EU-wide financial transaction tax
Posted on 03/22/2012 10:11:37 PM PDT by Olog-hai
The European Commission has defended its proposal to introduce a financial transaction tax (FTT), saying that it could substantially reduce member states' contributions to the EU budget.
José Manuel Barroso, the European Commission president, said today (22 March) that the use of an FTT to finance part of the EU budget would give the EU the funds it needed to pay for priority programs on jobs and growth.
He told a conference of MEPs and national parliamentarians from across the EU in Brussels that if the EU's budget was funded by an FTT, it would cut national contributions by half.
The Commission plans, which have so far been met with widespread skepticism by member states, were challenged by MEPs and national parliamentarians.
The FTT is one part of a proposal the Commission has drafted to increase the share of the EU's finances that come from so-called own resources. These are funds collected by the Commission rather than being direct contributions from national governments.
The Commission has also proposed a new EU VAT system that would see a small share of national governments' VAT revenues (1%-2%) going to finance the EU budget.
(Excerpt) Read more at europeanvoice.com ...
And when the people shut down spending, watch for Arbeitsziehungslager push.
The beginning of the EU territory concentrated labor camp.
The EU must have removed the “Goose and the Golden Egg” from required reading in schools. Seems they all are growing
José Manuel Barroso, the European Commission president, is, even though he represented a so called conservative party in Portugal, an old maoist, so what else to expect?