Brussels, 09/03/2011 (Agence Europe) - The Socialist Group at the EP, through its leader Martin Schulz, has strongly criticised the reaction of EU Taxation Commissioner Algirdas Šemeta to the request made on 8 March by a large majority of MEPs for a tax on financial transactions (TFT) to be introduced at global level or, failing that, at EU level in the meantime (see EUROPE 10331 on the report by Greek Socialist Anni Podimata on innovative sources of finance).
The commissioner said in a press release: “We need a financial transactions tax at global level to help fund our international challenges such as climate change and development. Europe must be a leader in pushing for this and I will discuss how to promote a global financial transactions tax with the G20 presidency... With regard to a financial transactions tax at EU-level only, I firmly believe that it is premature to commit to such an option. In fact, taking into account the potential impact that this could have on European competitiveness, it would be irresponsible to proceed with such a tax without first analysing and fully understanding all the implications. The Commission is currently preparing an in-depth analysis of all the options for financing the financial sector, which it will present by the summer. It is my duty as Commissioner for Taxation to also examine in detail other potential options, such as a Financial Activities Tax. This will ensure that we find the best solution for taxing the financial sector within the EU.” The Financial Activities Tax was mentioned in the Commissioner's October 2010 report (see EUROPE 10231 and 10292).
On behalf of the S&D Group, its chair Martin Schulz reacted by calling for Barroso to explain the college of commissioners' view on Šemeta's comments, saying that even if they only reflect the commissioner's personal views and not those of the commissioners as a whole, they clash with the democratic desires clearly expressed by the European Parliament. He added that he wanted Barroso to make it clear to Šemeta that his behaviour outstretched the proper bounds of his job. (F.G./transl.fl)