Speaking during a debate on EU proposals for a Financial Transaction Tax, Neil Parish raises concerns that this tax would damage the City of London as an attractive location for financial institutions.
Neil Parish (Tiverton and Honiton) (Con): Does my hon. Friend agree that in the context of the City of London needing to be attractive for financial transactions, all this tax would do is add yet another burden? We want more people to come to the City of London and trade, not fewer, and I feel that this tax would drive people away.
Greg Clark: I agree. It is not only the London economy that would be damaged; the whole European economy would be damaged, too. That cannot be in the interests of EU members, but members are, of course, sovereign and can make their own decisions, provided that that does not interfere with our competences and rights.| Hansard