Enhanced cooperation on the financial transaction tax (debate)
Ashley Fox (ECR), blue-card answer. – My answer to that would be that where you have a tax you will cause business to migrate elsewhere, and business that perhaps might be done in Frankfurt or Paris will move somewhere else. You refer also to the stamp duty in the United Kingdom. Of course that is not paid by foreign businesses, deliberately so we do not deter foreign business from taking place in the City of London.