Van Rompuy: financial tax to form part of EU budget

EU Observer ^ | 11/16/2012 @ 10:26 | Benjamin Fox

[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 week’s 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 billion—a €20 billion reduction on the €993 billion agreed for the 2007-2013 period. …

[Olog-hai]

Then shall stand up in his estate a raiser of taxes in the glory of the kingdom: but within few days he shall be destroyed, neither in anger, nor in battle. — Daniel 11:20

[GeronL]

If the EU(SSR) gets the power to levy taxes, then the continent is doomed, AGAIN. Countries will become provinces.

[Olog-hai]

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.