3 Amendments of Louis MICHEL related to 2011/0261(CNS)
Amendment 6 #
Proposal for a directive
Recital 1
Recital 1
(1) The recent financial crisis has led to debates at all levels about a possible additional tax on the financial sector and in particular a financial transactions tax (FTT). This debate stems from the desire to ensure the financial sector contribute to covering the costs of the crisis and that it is taxed in a fair way vis-à-vis other sectors for the future; to dis-incentivise excessively risky activities by financial institutions; to curb speculation, in particular on commodity markets, thus limiting food price volatility and its impacts on food security; to complement regulatory measures aimed at avoiding future crises and to generate additional revenue for general budgets or specific policy purposes.
Amendment 8 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) The revenue of the FTT must not be used to disregard the national development aid commitments of 0,7% of GNI; Copenhagen agenda and the fight against climate change in developing countries have to be financed by these additional means.
Amendment 18 #
Proposal for a directive
Article 17 a (new)
Article 17 a (new)
Article 17a Use of revenue as own resource for EU budget Part of the revenue arising from the FTT in the Union should be used as own resources for the EU Budget, of which a significant percentage should be invested in financing the fight against climate change in developing countries.