Mr. Paul Tang:

In my view, the difference between us is clear. Every time Deputy Pearse Doherty states that he wants the tax competence to rest with the nation state, the companies - such as Google and Facebook - cheer. They are the ones which benefit in the end. We are talking about the differences within Europe, but the real winners from this are the large corporates. We see - this is part of a global trend - the share of labour falling worldwide and the share of capital growing. We see the number of people who have been lucky to turn wealthy grow. This is part of a trend that means globalisation versus the nation state. Every time one states it has to be the nation state, one is making one's politics powerless and to the benefit of capital and the capitalist. I am from the party that wants to save capitalism from the capitalists.

On this issue, I would very much like to have a global framework. No doubt this should be our aim. That is why the EU and the OECD are working together and trying not to contradict each other. There is a careful dance on digital taxation for that matter. Europe knows that it should take action on its own but it does not want to destroy or even disturb the OECD process. My opinion is that if we take a European lead, we have a better chance of arriving at a global framework. Sometimes one needs leading examples. Europe is an economic superpower. We can set standards and we do not. Our problem in Europe is that we are an economic superpower and a political dwarf. I would suggest we take this superpower and use it to set global standards.