Economic and Monetary Union and the Financial Transaction Tax

• Parliament TV: Watch the debate
• 4th Report (session 2013-14): Financial Transaction Tax (PDF 2MB)
• 28th Report (session 2012-13): Economic and Monetary Union (PDF 883KB)

Committee Chair

Chairman of the Committee, William Cash MP said:

"These are all important debates. With respect to the debate on Economic and Monetary Union and the Financial Transaction Tax, the European Scrutiny Committee vigorously insisted on this debate being held on the floor of the House. 

"It raises the whole question of the primacy of the United Kingdom Parliament in relation not only to taxation, but also in the light of the comments by the European Commission that 'interparliamentary cooperation as such does not, however, ensure democratic legitimacy for EU decisions. That requires a parliamentary assembly representatively composed in which votes can be taken. The European Parliament, and only it, is that assembly for the EU and hence for the euro.'

The impact of this, and similar observations, must be debated in the UK Parliament."

 Further information

• European Scrutiny Committee
• About Parliament: Select Committees
• About the European Union