• A proposal for the introduction of a Financial Transaction Tax by the EU, which would hammer the City of London and UK taxpayers, was passed overwhelmingly in the European Parliament today.
The Podimata Report was passed by 487 votes in favour, 152 against, 46 abstentions. UKIP voted against.
An amendment by the ECR group of which the Conservative Party MEPs are members had an amendment to shoot down the report strongly defeated (112 votes in favour, 557 votes against, 7 abstentions).
Speaking after the vote, UKIP MEP Godfrey Bloom said:
"UKIP is completely against the introduction of a financial transaction tax because it would unfairly and disproportionately damage the City of London. Why should the UK financial section be milked to pay for the wages of bureaucrats in Brussels?
"The overwhelming defeat of the ECR amendment to reject the FTT shows that the UK cannot act to protect the UK interests.
"It shows Cameron's argument that the UK government can negotiate a better deal for British business from within the EU as a fraud and a farce.
"The only way to protect the UK's financial interest is to withdraw from the tax-hungry EU and stop giving Brussels power over us. This passing of Financial Transaction Tax report shows that UK withdrawal from the EU is urgent"
Earlier today, Godfrey Bloom addressed the European Parliament during the FTT debate. The following is a full transcript.
"A Financial Transaction Tax sounds like a really good idea, doesn't it, it plays well politically. And we can hit those greedy bankers who we all hate in public, while we shovel money into their pockets in private. But I don't think it's quite going to work out that way.
All taxes are passed on to customers at the end of the day. Sorry everybody, that's just how it works. So again it will be the little people that will pick up the tab. It'll be savers, it'll be pensioners and ordinary folk that pick up this tax, not the greedy, fat-cat bankers that you're trying to get at.
And it's interesting, is it not, also if you look in the small print, they're saying some of the money raised can actually go towards, perhaps, saving future failed banks.
So we know, we concede, do we not, that more banks are going to fail. And we know this because we have the same ridiculous, fractional reserve banking system, the same crooked, money-printing, criminal behaviour at the central banks, and so on and so forth. So nothing has changed.
Another strong signal to bankers and politicians to continue the theft, but beware those who think taxing London is a risk-free game, and we mean London, don't we? Other EU countries, when it comes to financial services are Mickey Mouse.
Financial services are 14% of UK GDP. The UK contributes £50 million a day to this crumbling institution. Don't kill the goose that lays your golden eggs. Zurich, Geneva, New York and Hong Kong are licking their lips wondering what piece of glorious stupidity we will come up with next.
And an FTT is a special tax. What next? A special tax on sunshine holidays in Spain? High fashion in Paris? Luxury cars in Germany? Mobile phones in Finland? And a special perhaps justifiable tax on dreadful flatpack furniture from Sweden.
It's coming up your street next. The greedy bureaucrats just want your money.
[In a 'bluecard question' Socialist MEP Vladimír MAŇKA (Slovakia) asked rhetorically whether the FTT would help us out given the financial crisis, to which Mr Bloom replied:]
"No, the problem we have is fractional reserve banking, which means banks lend money that they don't have; central banks and politicians who print money which degrades currency. That is your problem. It isn't regulation, it isn't taxation.
It's because of the criminal behaviour of the world's central banks and until that stops nothing is going to change. There are a lot more bank failures coming down the road, believe me.