Prospects for New Sources of Revenue for the European Union
Prospects for New Sources of Revenue for the European Union

Author(s): Melchior Szczepanik
Subject(s): Politics, Economic policy, International relations/trade, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: EU; European Commision; economic policy; budget; funds;
Summary/Abstract: The European Commission’s proposal to pay off the debt taken on to create the recovery fund through new taxes strengthens the arguments for reform of the revenue side of the EU budget. Establishing additional sources of revenue is in the interest of net beneficiaries of the EU budget, who would be particularly hit by the cuts provoked by the necessity to pay the Union’s creditors. Proceeds from taxes could also enable greater spending on new priorities such as research, healthcare, and border protection. The sceptics, however, including the Northern European states, are still unconvinced.

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