Die Presse, 10 November 2009

A European tax in the offing

Published on 10 November 2009 at 12:40
Die Presse, 10 November 2009

Cover

It’s only rumours for the time being. Still and all, the debate over a direct European tax has spilled over onto the front page of Die Presse. Fed up with grappling year in, year out, with member states stalling on payment of their EU dues, and egged on by a coalition of “net contributors” (Germany, Austria and The Netherlands), the European Commission aims to strike out on its own and levy its own taxes. According to the Viennese daily, the debate, likened to a “Loch Ness monster that re-emerges annually in the Brussels millpond, only to drown as fast as it surfaced”, is liable to last this time around. With their economies weakened by the financial crisis, “the aggregate indebtedness of the EU 27 could add up to 100% of European GDP,” the Commission warns. Faced with that spectre, the EU should either downscale its budget (currently €116 billion) or charge its own taxes. So the Commission is mulling three potential revenue sources: a tax on financial transactions, one on added value, and one on fuel.

Tags

Was this article useful? If so we are delighted!

It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.

Discover our subscription offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic