An FTT will reduce the fragmentation of the internal market.
A tax on transactions will increase market integration? You what?
Actually reading the report their basic contribution is to point out that it\’s been very embarassing what with the EU report itself showing that an FTT would lose tax revenue. This was because the underlying model used showed that an FTT would raise the cost of capital to companies and thus reduce investment.
So, we\’ve changed that model so that the result is less embarassing.
Hurrah, trebles all round!