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 Full text 
Wednesday, 14 March 2018 - Strasbourg Revised edition

Common Consolidated Corporate Tax Base - Common Corporate Tax Base (debate)

  Bill Etheridge, on behalf of the EFDD Group. – Mr President, tax harmonisation: an attack on the principles of competition and national sovereignty. Of course, if you can eradicate competition you can raise taxes all across the EU, which is actually what you want to do. You seek to rush in this new, fiendishly complex scheme so it may even affect the UK during the dreaded transitional period. The committee even wants to reduce the threshold for this, from EUR 750 million a year down to zero, over a seven-year period. We need simpler taxes that can be set at a national level and encourage competition, not an effort to stifle competition. By removing the chance for nation states to compete on tax, you inevitably increase tax levels and make us all less competitive.

What is the impact of this? Companies fleeing the high-tax, regulation-filled EU could move elsewhere. Smaller EU countries which currently manage to actually prop up their economies by being competitive on tax, such as Ireland, will be penalised. Of course, when tax is increased, the whole economy of all of the EU will be suppressed and held down by this wet blanket of desire to control and to tax all the time.

I hope that the UK adopts a very competitive position on corporation tax policy post—Brexit. I would like to see us competing as an island off the coast of the EU that gives a real competitive advantage to business, that says: we want you here; we want wealth creators here; we are a friendly nation to people who want to make money and we are not like the EU, which is addicted to endless taxation so that they can spend on huge schemes. We, in the UK, should favour business, growth and employment.

Last updated: 16 July 2018Legal notice