On Wednesday16 March 2011 the EU Commission published a proposal to introduce a Common Consolidated Corporate Tax Base (CCCTB). A few days earlier, on Friday 11 March, the heads of state of the Euro area almost agreed on a « Pact for the Euro » to save the common currency from financial meltdown and come to the rescue of delinquent members (an agreement that subsequently came unstitched). These two events did not appear to be linked, except in timing. But they both illustrated, each in their own way, what one could call the EU’s « Icarus Complex ».
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Environmental tax reforms have a history of almost two decades and were viewed as a way to the better world the “double-dividend” theory predicted. Much “political capital” has been invested in policies leading to environmental tax reforms on European and national levels from 1992 (the year of the first EU-wide energy and carbon tax proposal) till today. In this report, the authors compare shares of environmental taxes on GDP and overall tax revenues in the EU from 1995 till 2010 to identify the real impact of such efforts.
The newly reappointed President of the European Commission José Manuel Barroso asked the former EU Competition Commissar Mario Monti to draw a report and advance “options and recommendations” to re-launch the European Union internal market. Istituo Bruno Leoni, Italy, recently published a critical appraisal of the Monti report. Our Director of research, Pierre Garello, contributed to this analysis of the propositions currently in vogue in Brussels.
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