We all hate paying taxes, but a common EU tax policy could see people in the UK paying even more.

Germany's new finance minister Oskar Lafontaine has insisted that those countries who sign up for the euro should also accept a coordinated tax policy.

It could see everyone in Europe paying the same corporation tax and VAT.

But UK critics argue that taxes take 38% from UK national income while the EU average in more than 45% - how can that be advantageous?

Is it unfair that some countries have lower taxes on business in order to attract investment? Should we all be paying the same?

UK Chancellor Gordon Brown is opposed to standard rates of taxation on savings and investments and any measures that could stamp out special tax breaks that might boost specific business sectors, like the UK film industry.

He thinks that tax avoidance can be dealt with by increasing disclosure.

However other EU finance ministers have said disclosure is not enough.

Conservative Shadow Chancellor, Frances Maude is also highly critical of Mr Brown's stance.

He said that the proposal for a withholding tax on savings and investment would devastate jobs in one of Britain's most successful industries. And, that more euro taxes would soon follow.

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