Syed Kamall MEP


Syed Kamall

Co-Chairman of the ECR Group; Member of Conference of Presidents

Parliamentary Committees:
International Trade; Economic & Monetary Affairs

Parliamentary Delegations:
Relations with the Maghreb countries and the Arab Maghreb Union; Parliamentary Assembly of the Union for the Mediterranean; Relations with the United States

Parliamentary Activities:
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"We need a more honest relationship with Turkey"

26 Apr 2017 @ 16:30

A new relationship is needed with Turkey that is based on co-operation, not the distant goal of European Union membership, Conservative MEP Syed Kamall told the European Parliament today.

Accounting standards need scrutiny to make sure banks behave

08 May 2013 @ 18:0

Conservatives MEPs today called for the regime for global accounting standards to be held up to thorough international scrutiny in light of the central role it played in causing the financial crisis.
The MEPs a series of key questions at a hearing in the European Parliament on the future of International Financial Reporting Standards.
With the European Commission set to commit to another six years of funding for both the International Accounting Standards Board and the European Financial Reporting Advisory Group - the bodies which respectively write the standards and grant them the EU's legal endorsement - the hearing flagged up several major areas requiring attention on in depth.
Host Syed Kamall MEP, Conservative MEP for London, said: "It cannot just be business as usual. We need to be sure we get to a regime which is clear and simple but also thorough and a powerful tool for better governance. Time is passing and this needs addressing now."
International Financial Reporting Standards (IFRS) are globally-recognised accounting standards that have been used in the EU for the accounts of banking groups and other listed companies for more than 20 years. Some investors believe that their complexity allows banks to misrepresent the reality of their balance sheets, making it hard to know what may be wrong with their finances.
Some of the standards are said to have contributed to the crisis, in particular those relating to how derivatives and losses on loans are recognised on balance sheets.
Dr Kamall, Conservative MEP for London, believes that fresh call for European banks to be stress-tested once more, to identify possible capital shortfalls, means transparency in banks' balance sheets should be top priority for the Commission.
He has been fighting hard to raise awareness of the issue at a European level.
At today's event, organised by the Association of Certified Chartered Accountants, he said: "The European accounting model has developed over several centuries and is about far more than simply providing information to the capital markets"
"Accounts in this context are drivers of better governance, not just about information for investors."
"It is important to discuss the extent to which IFRS, which run up to several thousand pages of rules, can achieve these aims. Often the more rules there are, the easier they are to get around."
"The G20 commitment is to strengthen the global financial system. We have to ask ourselves whether converging around complex, wordy accounting standards is something that will stave off future crises."

CETA: Conservatives welcome agreement but regret delay

27 Oct 2016 @ 13:30

Responding to the news that the Belgian government has finally reached an agreement on the CETA EU-Canada trade deal, Conservative International Trade joint spokesman Emma McClarkin MEP said: "It makes you wonder why they dragged this out so long. Justin Trudeau could have been in Brussels signing this agreement today with fanfare. Instead he has cancelled his trip with a bad taste in his mouth.

"The credibility of the EU on global trade deals is in tatters following this debacle. CETA is one of the highest quality agreements ever negotiated, with a country that has values and standards very similar to our own. Other countries will now ask whether it is worth the time and effort conducting such deals with the EU. We need to show them that the EU can be a reliable trade partner."

Cheers for UK legal action over EU bonus interference

25 Sep 2013 @ 17:0

Reacting today to news that the UK is to take legal action against the EU over its planned cap on bonuses for bank employees, Syed Kamall MEP, Conservative spokesman in the European Parliament on economic and monetary affairs, said: "I welcome this move by George Osborne and I congratulate him for standing up to Brussels.

Come meet us at party conference

26 Sep 2018 @ 12:00

Join us in Birmingham for our final Conservative Party Conference from Sunday 30th September to Wednesday 3rd October. We will be answering your questions at our stand in the main exhibition hall and out our latest report showcasing how we have delivered for Britain. Together with the European Conservatives and Reformist (ECR) Group, we will also be hosting events throughout the conference discussing the UK and EU's future security and economic relationship.

Commission benchmarking intervention is impulsive and out of proportion

18 Sep 2013 @ 17:0

Plans announced by the European Commission to regulate a huge range of financial and trading benchmarks were condemned today as disproportionate and needless.

Commission proposals on VAT rules a step in the right direction

06 May 2015 @ 12:45

Conservative MEPs have given a cautious welcome to proposals from the European Commission to ease the burden on microbusinesses caused by cross-border EU VAT rules.

Conservative MEPs secure EU support for small businesses over VAT rules

25 Mar 2015 @ 19:45

Conservative MEPs have won an assurance from a leading EU Commissioner over the party's campaign to ensure new VAT rules do not have an adverse impact on micro-enterprises.

Frans Timmermans, effectively President Jean-Claude Juncker's number two in the Commission, promised that the new rules would be examined to head off any harm to small digital companies through unintended consequences.

The so-called VATmoss rules mean that, from January 1st this year, businesses have had to collect VAT for each individual country they sell to, and keep the records of all their transactions for years.

The rules were brought in to stop big companies from abusing international tax rules, but unfortunately lawmakers did not foresee the emergence of digital micro-businesses, such as the sellers of e-books.

Conservative MEPs - backed by Prime Minister David Cameron - have been lobbying the Commissio! n to introduce a threshold, to ensure the new rules do not create extra burdens for micro-enterprises.

The Commission initially sought to blame national governments, and in a debate with the European Commission in Brussels today, Conservative MEP for the East Midlands Andrew Lewer commented: "When it comes to people raising concerns about obstacles, the Commission simply blames someone else".

However responding to Mr Lewer's concerns, Commission vice-president Frans Timmermans promised to evaluate the effects of the new rules, saying "We would never want this legislation to have adverse effects on small entrepreneurs who are often at the cutting edge of creating new employment".

Conservative MEP for London, Syed Kamall, welcomed the change in heart of the Commission and said "I think we finally have a glimmer of hope for the many small businesses who have been so badly affected by this rule change."

Conservative MEPs welcome microbusiness exemption from "VATmoss" rules

11 Sep 2015 @ 14:00

 Conservative MEPs have welcomed confirmation that the European Commission is to bring in an exemption from EU VAT rules for microbusinesses.    

Conservative MEPs: We can't end poverty without the private sector

21 Nov 2017 @ 14:00

Ahead of the EU-Africa Summit next week Conservative MEPs have called today for the private sector to take a leading role in the EU's development policy.

Conservative negotiator vows to resist "misdirected" proposals on fund-manager bonuses

21 Mar 2013 @ 13:0

The European Parliament's Economic and Monetary AffairsCommittee today approved by a small majority plans to cap the bonuses earned byinvestment fund managers.

Conservatives condemn "wrongheaded" proposal to cap fund-manager bonuses

19 Mar 2013 @ 13:0

An EU plan to extend bonus-capping powers into the field of investment management has been condemned by Conservative MEPs

Consumer protection measures undermined by MEP vote

22 Oct 2013 @ 14:0

Late last night, the European Parliament's Economic andMonetary Affairs Committee decided to add additional, unnecessary requirementsto investor-protection measures set out in the Key Information DocumentRegulation.

Contact Us

20 Nov 2013 @ 9:0

Prime Minister David Cameron today congratulated Syed Kamall on becoming leader of Britain's Conservative MEPs.

EC told to think again on investor standards

01 Sep 2016 @ 16:30

Poor technical standards that could hurt high street investors have been rejected today by the European Parliament’s economics committee.

ECR spells out its priorities for the EU to Bulgarian PM.

17 Jan 2018 @ 10:00

Challenging Russian aggression, tackling migration and promoting organisational reform should sit alongside Brexit as the EU's priorities over the next six months.

EU acts on fire safety in wake of the Grenfell disaster

13 Sep 2017 @ 19:00

A system for pooling information on fire safety and sharing best practice is being established by the European Commission in the wake of the Grenfell Tower disaster.

EU migration policy must have public support

06 Sep 2017 @ 16:30

The EU will not solve the migration and asylum crisis by forcing reluctant countries to adopt rules they opposed from the beginning, according to Conservative MEP Syed Kamall 

EU-Japan deal could restore EU's credibility as a trading partner

21 Mar 2017 @ 16:00

Today's commitment between the EU and Japan to reach a speedy conclusion to trade talks is a positive step in the EU restoring its credibility following the delays in the EU-Canada trade deal.

The commitment was made by all parties when the Commission President Jean Claude Juncker and Council President Donald Tusk met Japanese Prime Minister, Shinzo Abe, today in Brussels. As negotiations enter their fourth year, both expressed hopes to conclude talks by the end 2017. 

Even the EU's lawyers now say its FTT is illegal

10 Sep 2013 @ 18:0

A leading Conservative MEP today called on the European Union to drop plans for a Financial Transactions Tax after it emerged that the bloc's own lawyers have determined it to be unlawful.

Funding for global accounting body finalised... but with strings attached

04 Dec 2013 @ 15:0

Negotiations on a controversial funding programme for the International Accounting Standards Board (IASB) have finally been concluded after months of discussions.

Global summit explores grassroots solutions to poverty

23 Jan 2018 @ 11:00

A major conference exploring how grassroots projects can provide lasting solutions to world poverty is taking place in London on Friday.

Good news as mango ban is lifted

20 Jan 2015 @ 17:0

A senior Conservative MEP today welcomed a decision to lift the EU's ban on mangoes from India.

Ground breaking ideas proposed to tackle poverty

26 Jan 2018 @ 01:00

A "do tank" to promote new ways of tackling poverty was amongst ideas floated at a high-level conference in London today.

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