Michael Noonan (Limerick City, Fine Gael)
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When the debate started, there were all sorts of proposal being made about a financial transaction tax. To be blunt, though, if the EU settled on a kind of stamp duty of 0.1%, it would make no difference to us beyond a reduction in our Exchequer flow from more than €200 million to approximately €25 million. I would oppose it in that context not because it would damage us, but because it would remove some of our tax base.