Cameron MEP’s extraordinary rant against Robin Hood tax


One of David Cameron’s MEPs has launched an extraordinary attack on the Robin Hood Tax, hailed as a tax on bankers that would give billions to tackle poverty and climate change, in Britain and abroad, raising hundreds of billions each year.

Tory MEP for South East England Nirj Deva, however, claimed the tax would:

“Give money to a whole bunch of people who will probably steal it.”

Watch it:

The hostility of the Tories’ spokesman on international development and vice chair of the European parliament’s development committee to the plans will be bound to cause worries for the Tory leader, keen to rid the Conservatives of their “nasty party” image.

His European representatives in particular are doing their best to re-inforce that picture, however, having opposed the Labour-backed proposals to establish a tax on financial transactions; the Parliament, though, supported the European Socialists & Democrats’ call for an international levy on financial transactions “as a fair contribution from the financial sector to global social justice”.

Mr Deva had desctibed the report as “silly” and “irrelevant”, adding:

“If you sell all the properties which are extra legal, the slum valued properties which are not part of the legal system in the developing countries you will achieve $7 trillion – there is a whole bunch of capital waiting in the developing countries which are outside the legal structures of those countries from the slums to those millions of businesses on the side of the roads you see which are not part of the formal economy.

“Secondly, if you ask how much money’s coming out of the developing countries every year, through into the financial systems of the world, it’s $800 billion. Why are we not working to keep that capital in those countries making those countries richer. No, what did we go and do just now, we voted for a Tobin tax to hammer already weakener financial institutions in the west and give money to a whole bunch of people who will probably steal it.

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  • http://twitter.com/jamescowley/status/11088448370 James Cowley

    RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • http://twitter.com/tancopsey/status/11088649832 tancopsey

    eh? http://tinyurl.com/ykcbdek Tory MEP not so coherent on why he opposes Tobin

  • http://twitter.com/sspcampsie/status/11088727280 SSP Campsie

    RT @leftfootfwd Cameron MEP's extraordinary rant against Robin Hood tax: http://short.to/1xkj2

  • http://twitter.com/dhmorton/status/11088727893 David Morton

    Same old Tories: RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • topsy_top20k

    Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • http://twitter.com/mariocreatura/status/11088819856 Mario Creatura

    Oh dear… RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • http://twitter.com/felix_cohen/status/11088838916 Felix Cohen

    RT @tancopsey: eh? http://tinyurl.com/ykcbdek Tory MEP not so coherent on why he opposes Tobin

  • http://twitter.com/aggyhall/status/11088864504 aggy hall

    RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • http://twitter.com/jmackin2/status/11088953445 James Mackintosh

    Tobin Tax nonsense. Tory MEP right for a change: UN agencies entrusted with $billions don't have a great record http://bit.ly/cWH2bL

  • Jamie

    Tobin Tax isn’t the same as ‘Robin Hood’ tax. And calling him ‘Cameron MEP’? Guilt by association, anyone?

  • http://www.shamik.co.uk Shamik Das

    Jamie, he’s the Tory spokesman on international development in Brussels, not some errant backbencher. Cameron’s made himself the centre of the campaign, he even thought about calling the Tories “David Cameron’s Conservatives” on ballot papers.

  • Mr. Sensible

    “The hostility of the Tories’ spokesman on international development and vice chair of the European parliament’s development committee to the plans will be bound to cause worries for the Tory leader, keen to rid the Conservatives of their “nasty party” image.”

    Oh I don’t know Shamik; I would suggest that’s failed already.

  • Jamie

    Shamik, it doesn’t really make a difference. He’s a Conservative MEP, not a ‘Cameron’ one.

  • http://twitter.com/anna_mob/status/11096266745 annabel h

    RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • http://twitter.com/tmt_lawyer/status/11096893230 Andrew Sharpe

    RT @leftfootfwd Cameron MEP's extraordinary rant v Robin Hood tax: http://bit.ly/cWH2bL [Remind me, how much pay & expenses does Deva get?]

  • http://twitter.com/mrsmooshoes/status/11097181834 Julie Wilkinson

    RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL

  • http://twitter.com/byrnetofferings/status/11102732716 Thomas Byrne

    @mtpt Do you know much about these proposals going through? http://bit.ly/cWH2bL Are we seeing a Tobin tax?

  • http://www.timworstall.com Tim Worstall

    ““If you sell all the properties which are extra legal, the slum valued properties which are not part of the legal system in the developing countries you will achieve $7 trillion – there is a whole bunch of capital waiting in the developing countries which are outside the legal structures of those countries from the slums to those millions of businesses on the side of the roads you see which are not part of the formal economy”

    Straight Hernando de soto stuff. Why would anyone attack him for saying that?

  • evidence based? really?

    So I suppose the labour reason for not supporting this policy, and not going as hard on the banks as the Tories, is a boost for labours ‘party of the people image? Geniune ‘non partisan’ question; what is Brown’s progressive reason for doing bugger a
    ll?

  • http://twitter.com/jojuber/status/11247089886 jo juber

    This is pretty shocking – Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL (thanks @leftfootforward)

  • http://twitter.com/clairerollo/status/11247268112 Claire Rollinson

    RT @jojuber: This is pretty shocking – Cameron MEP's extraordinary rant against Robin Hood tax: http://bit.ly/cWH2bL (via @leftfootforward)

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  • http://twitter.com/papamcbride/status/11910999026 Frank McBride

    RT @leftfootfwd: Cameron MEP's extraordinary rant against Robin Hood tax http://bit.ly/cWH2bL

  • McHarris

    Is this really asking you to be part of the World’s Greatest Bank Job (ha ha ha ha) or a conniving way to encourage you to be a part of the Worlds Biggest Con Job?

    I just have to wonder how many folk actually have heard about the ‘Robin Hood Tax’ ? – (RHT) and more importantly have taken the time to find out what it is? where it comes from? what is actually involved? Let me tell you right now it involves BILLIONS OF DOLLARS, and of course, should it come to pass, just who will administer it?

    http://just-me-in-t.blogspot.com/2010/04/men-in-tights.html

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  • William

    What exactly is incorrect in what he said?
    He said there’s a huge amount of industry and capital in the developing world. He’s right.

    He said that a staggering amount of money is being taken out of the developing world (a huge chunk of it in the form of interest payments on loans which have been forced upon them and subsequently squandered). He’s right.

    He said money gained from taxing financial transactions (and I’ll refrain from going into detail about how that’s a tax on ordinary people, not on banks and how it’s ill concieved at best) would probably be stolen if it was sent to the developing world. He’s right.

    Other than the fact that you don’t like his party and what he said… what’s to object to here? This is a rare bit of sense from the political class.

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