The UK Prime Minister stressed that the Financial Transactions Tax could reduce the GDP of the EU by €200 billion, cost nearly 500 thousand jobs, and force as much as 90 per cent of some markets away from the EU.
Cameron also mentioned that during the weekend Chancellor Merkel joined him in calling for a package of deregulation and liberalisation policies. UK ideas now lie at the heart of what the European Commission is promoting too.
He said that together, “we’re pushing for the completion of the single market in services and digital which could alone add €800 billion to EU GDP, and leading the drive to exempt micro-businesses from excessive regulation – both new and existing”.
On his checklist of 'bolder' measures is a new proportionality test to prevent needless barriers to trade in services, and slash the number of regulated professions in Europe.
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