Terra Nova suggests elevating VAT to keep away from debt disaster | EUROtoday

Tax the wealthy? On the left, the system has develop into a mantra, the miracle answer that solves budgetary issues. But that won’t be sufficient, removed from it. This is what Terra Nova says in a report revealed Monday, December 8. Faced with the size of the deficit and the specter of a debt disaster, far more painful measures will probably be needed, and “we will have to increase one of the taxes that everyone pays”, akin to the worth added tax (VAT) or the generalized social contribution (CSG), estimates the suppose tank, near the fitting wing of the Socialist Party. A quite offbeat place, which exhibits that the convulsions round public funds are beginning to transfer sure political traces.

On a number of factors, the evaluation signed by Guillaume Hannezo, former financial advisor to François Mitterrand, founding member of the Gracques and present professor on the Ecole Normale Supérieure, can be near that introduced on November 26 by the Institut Montaigne, a liberal suppose tank financed by massive firms. Both experiences emphasize the seriousness of the French budgetary state of affairs, and the monetary danger weighing on the nation.

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