Skip to comments.Van Rompuy: financial tax to form part of EU budget
Posted on 11/16/2012 10:39:57 AM PST by Olog-hai
The much vaunted EU financial transaction tax (FTT) is set to be hard-wired into the EU budget, with most of its revenue going directly to the EU.
A paper prepared by EU Council President Herman Van Rompuy and sent to European capitals ahead of next weeks EU budget summit, where leaders aim to agree a mandate on the budget framework for 2014-2020, would deduct FTT revenues from national contributions to the annual EU pot.
Van Rompuy put forward his ideas after private talks with EU countries budget sherpas over the past 10 days.
He has proposed a cut of 75 billion in commitments from the text put forward by the European Commission, leaving total commitments at 973 billiona 20 billion reduction on the 993 billion agreed for the 2007-2013 period.
(Excerpt) Read more at euobserver.com ...
If the EU(SSR) gets the power to levy taxes, then the continent is doomed, AGAIN. Countries will become provinces.
And if that weren’t bad enough by itself, this financial tax specifically attacks London’s financial sector, so it’s a power play at the same time.