We will consider a number of proposed EU measures. COM (2011) 594 is a proposal for a Council directive amending Directive 2008/7/EC on a common system for a financial transaction tax. This is a significant proposal with major implications for the financial sector across the European Union. In particular, it would replace national competence in an area of taxation with a uniform EU-based tax across the internal market. In the Irish context, it would mean the abolition of the stamp duty on share transfers and its replacement with a new EU financial transaction tax. Under the provisions of the Lisbon treaty, national Parliaments have until 5 December to decide if they wish to lodge a reasoned opinion on subsidiarity grounds. Is it agreed that this measure warrants further scrutiny? Agreed.
There has been significant opposition to this proposal at ECOFIN, given that it is unlikely that G20 or global agreement will be received for the introduction of the tax at a global level. Accordingly, it is proposed that clarification be sought from the Department of Finance as to whether the proposal is likely to be dismissed out of hand at an early stage by the Council of Ministers and the level of concern the Department has about the subsidiarity of the proposal. The committee can then reconsider the issue of subsidiarity in advance of the deadline of 5 December set for national Parliaments. This is the sequence of events I propose. Is that agreed? Agreed.
COM (2011) 577 is a proposal for a Council decision amending Directive 2007/659/EC as regards the period of application and the annual quota benefiting from a reduced rate of excise duty. This is a technical proposal to increase for a further year the annual quota of traditional rum produced in French overseas départments and sold on the French mainland which benefits from a reduced rate of excise duty. As the proposal has no implications for Ireland, is it agreed that it does not warrant further scrutiny? Agreed.
COM (2011) 335 is a proposal for a regulation on European statistics on safety from crime. The CSO has confirmed that this is a technical proposal which has no major indications for Ireland. There will be a requirement to conduct a survey in 2015 as a module in the quarterly national household survey. The survey methods and dates have been finalised. Is it agreed that this technical proposal does not warrant further scrutiny? Agreed.
It is proposed to publish a list of these three proposals and include the full titles on the committee's webpage. Is that agreed? Agreed.