Tuesday, 26 February 2013

UK Household Savings - Beware Confidence Tricksters Operating in Your Constituency

You'd be amazed at the kind of proposals and regulations that go through the European Parliament  It's not just confined to making sure that our cars are powered by lawnmower motors either. Take the next plenary session, where in almost exactly two weeks time, we'll be looking at this double ambush:

Strengthening the fight against racism and xenophobia - Council and Commission statements

Integration of migrants, its effects on the labour market and the external dimension of social security coordination.

All those Tories who are so fond of playing to the domestic gallery when it comes to such matters will not say a word, but that no longer surprises either me or you. I tell you something though, an event that really did knock me for six in the last plenary session was this part of the De Backer report on improving finance to SMEs (small and medium-sized businesses) :

40. Notes that in some Member States there is a record amount of household savings in bank accounts, while in other Member States deposits are reducing because of the effects of the crisis; stresses that creating a proper framework of incentives to activate these household savings should facilitate SMEs’ access to finance, both domestic and cross-border, and boost the EU economy; calls on the Commission to come forward with a proposal on the activation of these savings, for example by introducing incentives based on the best practices existing in the Member States;

Read it twice and ask yourselves which UK MEPs could possibly vote for such an open-ended invitation to have the pockets of the British people picked clean? When I tell you that all of the Conservatives, Labour, LibDem and Green MEPs were amongst the 538 voting for this and only 20 MEPs voted against, it should shock even experienced hands.