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Today in Strasbourg the European Parliament narrowly rejected an amendment calling for tax harmonisation in the EU.
The European Parliament's resolution on a crisis mechanism for the euro area outlined the political priorities of a rescue system for the current sovereign debt crisis, but also contained key paragraphs calling for a system of Eurobonds and harmonised tax rates.
The crucial vote, which would have mandated the European Commission to start work on harmonising corporate tax rates across the EU was defeated by just 269 votes to 263.
Vicky Ford, Conservative Spokesman for Economic and Monetary Affairs in the European Parliament said:
"Crises have always been a spur to the European project. However, we must remain vigilant as to the direction Europe is headed - undoubtedly the Euro area needs a coherent crisis mechanism but this must not be an excuse to drag the UK into a fiscal union and European economic government.
It is not, as many believe, a no-brainer in economic terms, and voters in the UK have time and again resisted this vision of Europe.
I am pleased and proud that Conservative MEPs have helped reject these attempts at an ever closer union."
Only one UKIP Member turned up to vote.
