Europe's Ultra-Rich Could Fund a Substantial Part of the EU's Budget
The European Commission is exploring new revenue sources, such as taxes on ultra-high wealth and crypto transactions, to fund a larger EU budget for 2028–2034. This shift aims to reduce reliance on national contributions based on labor and consumption taxes.
Spending needs for the EU budget for 2028–2034 have grown, and nowhere more so than in the investment required for the social and ecological transformation. At the same time, it is important to move beyond the problematic debate about higher national contributions to the EU budget, since those contributions are financed largely through taxes on labour and consumption. We have analysed how new EU revenue sources — among them taxes on ultra-high wealth and on crypto transactions — could help to do exactly that.
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