Financial Transaction Tax and Economic and Monetary Union

Greg Clark Excerpts

Thursday 20th June 2013 Ministerial Corrections

The following is an extract from the response given by the Financial Secretary to the Treasury, the right hon. Member for Tunbridge Wells (Greg Clark) to the hon. Member for Nottingham East (Chris Leslie) during the Financial Transaction Tax and Economic Monetary Union Debate on 18 June 2013.

[Greg Clark]

The US Government also have serious misgivings: the Treasury Secretary, Jack Lew, has said that, despite objections from financial and non-financial trade associations and Government officials in the United States, Canada, Australia, Japan, Korea and other countries regarding the global reach and negative impact of the proposal, their concerns remain unanswered.

[Official Report, 18 June 2013, Vol. 564, c. 790.]

Letter of correction from Greg Clark:

An error has been identified in the response provided during the Financial Transaction Tax and Economic and Monetary Union Debate.

The correct response should have been:

[Greg Clark]

The US Government also have serious misgivings and the Treasury Secretary, Jack Lew, has received a letter from Congressmen saying that, despite objections from financial and non-financial trade associations and Government officials in the United States, Canada, Australia, Japan, Korea and other countries regarding the global reach and negative impact of the proposal, their concerns remain unanswered.