Mr President, both President Juncker and President Macron were right to point out for the need for the EU to harmonise taxation and adopt qualified-majority voting in taxation decisions. This should be a priority at the European summit, otherwise, the EU will continue to be bogged down by an ungovernable European monetary union, shrinking national and European fiscal resources, a fictional single market with competition distorted by tax dumping, and the tax jungle prone to be made worse by Brexit.

The reality, however, is already alarming. We will not work for common security and defence by letting corruption and organised crime, including human trafficking and terrorism, continue, and by allowing the proceeds through our taxation and financial systems, taking advantage of the digital era. The Commission set alarm bells ringing with the report on VAT carousel fraud, showing it provides EUR 5 billion per year to organised crime, including terrorism. How can EU governments and the EU Council be effective with action on VAT and the common consolidated corporate tax base (CCCTB) if they go on enabling terrorists and mafia to get funds through our own tax system on a massive scale?