“The financial transactions tax proposed by the European Commission would bring in up to 57 billion euros each year” | EUROtoday

LThe anger expressed by our farmers within the face of the deliberate enhance in taxes on diesel reveals a struggling broadly shared by the inhabitants: should it all the time be the identical individuals who pay? Should we enhance a tax on electrical energy by 10%, however by no means tax the monetary markets which repeatedly break new data?

No one disputes the necessity to discover new assets: when Joe Biden places 400 billion on the desk to draw all inexperienced trade to the United States, we can’t stay with out reacting. We should additionally repay Covid support and discover new means to win the local weather battle: spend money on public transport, finance agricultural support, lastly implement a serious multi-year thermal renovation plan for all our buildings and provide the help fund for international locations within the South, created at COP28.

While the development sector is saying as much as 150,000 job cuts this 12 months in France, it might be dramatic if we accepted these layoffs. We keep in mind that, in 2007, the Grenelle Environment Forum organized by Jean-Louis Borloo resulted in a powerful consensus resulting in the will to “ rehabilitate over the period 2010-2017 the homes of 300,000 modest owner-occupiers in situations of severe energy poverty”.

A good, fast and environment friendly response

Unfortunately, seventeen years later, solely 13,000 environment friendly renovations are carried out annually… Millions of our fellow residents are in a state of affairs of nice power poverty, France's commerce steadiness exhibits a colossal deficit due to our fuel purchases and oil, and climatologists are paralyzed by the focus of CO₂ within the environment which is growing right now thrice sooner than within the Sixties or Nineteen Seventies.

To keep away from these layoffs and to answer the local weather emergency, we should instantly discover new means, whereas responding on the identical time to the demand for tax justice that emanates from all our territories.

A good, speedy and efficient response is the creation of a European tax on monetary transactions. This is a request from your entire European Parliament which has voted on three reviews on this topic in three years. The small tax (0.1%) proposed since 2011 by the European Commission would usher in as much as 57 billion euros annually.

As economist Gunther Capelle-Blancard factors out, the monetary transactions tax (TTF) has all the benefits that make a great tax: “It isn’t very distortive, its tax revenues are probably excessive and assortment prices are minimal; it additionally has a redistributive impact. »

You have 36.98% of this text left to learn. The relaxation is reserved for subscribers.