This year Credit Day for the European Union falls on the 17th of December. This is the day which, on average, EU member states have spent their tax-based revenues and start borrowing to meet their needs.
Production taxes in France have long been a contentious issue closely linked to employment and wage growth. France currently sets one of the highest levels of production taxes in the EU, which can be seen as an example of the government’s habitual over-taxation.
The latest International Tax Competitiveness Index, published by the Tax Foundation, illustrates the wide variation in the quality of tax systems across Europe.
The voting patterns of political parties in the national parliaments of Greece, Italy and Spain, and of their members of the European Parliament, show certain similarities, including a tendency for parties in government to support free trade agreements and those in opposition to resist them, whatever their political orientation.
The EU Commission launched a public consultation on the adoption of a Carbon Border Adjustment Mechanism (CBAM), i.e. a fee to be levied on imported goods.
The Conference on the Future of the Europe seeks to tackle the long-criticised ‘democratic deficit’ of the European Union with its emphasis on citizen involvement and deliberation via a digital platform launched in April 2021.
Debt mutualisation across EU Member States has recently been brought to the forefront of discussion. Firstly, because of the European Central Bank’s (ECB) balance-sheet operations, through Eurozone members’ public debt purchases in financial markets or via TARGET2 balances, where the balance of payments amongst countries are recorded.
The taxation of capital—at both the individual and the corporate level – is much debated and affects economic growth by lowering the incentives to save and invest.
Last spring, my colleague Chris Snowdon compiled an amusing Twitter thread highlighting examples of commentators and activists who were using the pandemic as a new excuse to peddle their old pet causes.