Brian Cowen (Laois-Offaly, Fianna Fail)

There is no formal proposal on the table. Technical work has been done at Commission level and has been brought to the ECOFIN Council from time to time. Commissioner Kovács indicates the level of progress but nothing definite has been suggested at this stage. Most people are courteous in listening to that, as we should be, not indicating outright disapproval since no proposal has been made yet. The work, however, continues and often it is interpreted that because the work is continuing, everyone will be happy at the end of the day.

I have consistently outlined the practical reasons that I do not agree with the proposal. There is a lot of work that should be done to improve taxation within the EU in terms of VAT fraud, the code of conduct and the introduction of a single financial services area. There are many issues with some prospect of an outcome that we should work on with the same determination but I am not convinced this will be approved by everyone. Unanimity will be required for its approval.

It is important that Ireland alerts all member states and the European Union. It is not just about how we see it, I honestly believe this is not good for Europe and would express that view in the context of any policy that is being formulated. There have been indications from the directorate general of the Commission that it would proceed with the proposition until there is something concrete. I have a problem with it. I have no specific calculations because there is no proposal in front of me but the Deputy can rest assured it would be detrimental.

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