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Eu Flags Europe Wide Vat To Increase Revenue

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http://www.bbc.co.uk/news/world-europe-13970135

European Commission proposes EU budget rise of 5%

The European Union could increase its budget by 5% under a controversial proposal unveiled by its executive, the European Commission.

The proposal - for the period 2014 to 2020 - comes despite calls from some EU member states for a budget freeze.

The commission is also looking to review budget rebates that some member states get - most notably the UK.

Hours after the proposal was unveiled, a UK government spokesman branded the planned budget "unrealistic".

"Britain and the EU's other largest payers made clear in December that the EU budget should be frozen, and we will stick to that," the Downing Street spokesman said.

"The EU has to take the same tough measures as national governments are taking across Europe to tackle public deficits. That means a restrained EU budget focused on the things that will get our economy growing."

Hard bargaining ahead

Negotiations over the proposal are expected to run well into next year.

EU spending is negotiated in seven-year cycles and the commission's plans would set the 2014-2020 EU budget at one trillion euros ($1.48tn; £898bn).

Under the plans, about 376bn euros would go to boosting underdeveloped areas of the EU and another 372bn euros to support Europe's farmers.

"This is an extremely serious, credible proposal, and to say 'no' to something which was only adopted two or three hours ago is not serious or credible," said European Commission President Jose Manuel Barroso.

The UK has benefited from billions of pounds in rebates off its EU bills for more than 25 years.

Mr Barroso warned: "There is no room for thinking about getting your fair share of your money back. The time has come to reform the system of rebates. It is of the utmost complexity."

In addition to the budget, the commission is looking to change the way in which the EU gets its money - including EU-wide VAT and a tax on financial transactions.

In the commission's view, for too long the budget has been plagued by arguments over the different national contributions and it is time for the EU to boost its own sources of revenue.

Correspondents say EU-scepticism has increased in member states in the face of expensive bail-outs for struggling euro countries like Greece, the Republic of Ireland and Portugal - even though those packages are not funded through the EU budget.

Edited by Ruffneck

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That's an interesting proposal, perhaps my cash would be better off under the mattress :unsure:.

They could tax fast share transactions...

so that people who buy shares for long term wouldn't be taxed very much at all... but those who play gambing with them on a minute by minute basis would get hammered.

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"Mr Barroso warned: "There is no room for thinking about getting your fair share of your money back. The time has come to reform the system of rebates. It is of the utmost complexity.""

Hmm, so a rebate isn't fair, but CAP is? Really beginning to think i need to find somewhere outside the EU to live.. perhaps we wouldn't feel like we need a rebate if we didn't see the amount being paid in spunked on a whim.

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a tax on financial transactions.

Do they mean charge people for moving money between bank accounts?

That would be nice for banks. If one bank offers a better interest rate there would be no point in people moving their money to it if they lost the extra interest in a new transaction tax. So even banks with the worst interest rates keep their money.

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They're using situation in Greece as cover for fiscal harmonisation and another play to end the subordinate Nation States. It's not bigger EU budgets per se it's transfer of National govt. roles to the centre. Think Ashton across the board.

Greek and Irish govts have already capitulated and are now nothing more than German protectorates policed by men in black sporting gas masks, riot shields and stun grenades.

If it looks like fascism, smells like tear gas and feels like loss of democracy then it probably is.

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If it looks like fascism, smells like tear gas and feels like loss of democracy then it probably is.

This rather dovetails with your comments on the 'Fat Greek' thread. RK.

Huge amounts of money were indeed thrown at the new states to get them 'on side'. Not only loans, but EU grants of all kinds. Especially to the former Soviet satellites. Was it goodwill in exchange for control freakery?

I think a lot of people are now questioning the role of the EU . . . particularly in the newly-impoverished territories. Any EU social laws and rights have become rather meaningless when schools are closed and employment contracts torn up at a stroke by the IMF. The ratings agencies have more influence on economic life. So what's the point of Europarl?

That leaves the EU with directives on 'green issues' and such niceties as straight cucumbers. That's not a Bloo Loo joke . . . over 60 varieties of tomatoes have disappeared since 'harmonisation'. Ironically, there is a non-round tomato museum in Belgium.

'Harmonisation' was an early initiative of the EU - originally to include VAT - and was in many cases abandoned for reasons of nonsense. For example, there is VAT on house purchases in Belgium. Harmonise that one.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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