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Ireland has had an industrial policy based on low corporate tax. This was first applied only to Multinational Enterprises (MNEs). Later, on the insistence of the EU, it was applied across the board. But MNEs were still able to exploit some tax provisions that enabled them to have significant advantages...
In several Member States, parties have campaigned for “no new taxes” and for lowering the tax burden. They neglect the fact, however, that to improve the tax system at home, there is a European angle to address. A better slogan would be “smarter taxes”. A strategy is needed, that combines...
Since the early 1980s, the incomes of the richest individuals and corporate profits have benefited from increasingly favourable statutory tax rates. In addition, legally and/or illegally these incomes and profits are moved offshore to further escape taxation. Solutions to this tax injustice however do exist. Source : Alvaredo F., Chancel...
The digital economy makes it even easier for multinational corporations to reduce their tax liabilities by registering in low-tax countries while doing business elsewhere. The media coverage about high profile cases of tax avoidance, such as the Luxembourg Leaks and the Paradise Papers, has raised public awareness of the scope...
Regaining export competitiveness through reduction of production costs, – that is mainly by cutting wages – is socially painful and potentially ineffective. Focussing on higher added-value products and better quality is the way to a sustainable long-term strategy to become more competitive on the global market. In some cases,...
EUROFOUND latest publication on wages: https://www.eurofound.europa.eu/sites/default/files/ef_publication/field_ef_document/ef18085en.pdf EUROSTAT data: https://ec.europa.eu/eurostat/statistics-explained/index.php/Wages_and_labour_costs
The Eurozone’s problems seem almost impossible to solve within the existing legal arrangements. And increasingly less so, given the growing angry and nationalistic forces. Is there any way out of the mess without a disorderly exit of one or more of its members and even a possible collapse of the...
Since 2015, the macroeconomy of the eurozone has been influenced by the implementation of Quantitative Easing by the European Central Bank. In December 2018, the ECB’s QE is coming to an end, but concerns remain about eurozone recovery from the crisis and the increasing divergence among eurozone countries. Who is...
The European Central Bank (ECB) is due to end its Quantitative Easing (QE) programme at the end of the year. The step has been announced for a long time; it should not lead to instability. If major problems emerge, however, the ECB could follow the Bank of Japan’s yield curve...
The 2018/19 European Semester, which coordinates the member states’ economic policies every year, has just been launched. This provides an opportunity to question the contribution of the mix of monetary and budgetary policies to the ecological transition. Paradoxically, it appears it is the ECB that is most advanced in this...