Group of the Progressive Alliance of Socialists & Democrats
On the eve of the European Spring summit, S&D Group leader Hannes Swoboda urged EU leaders to adopt strong measures to boost growth and job creation including a clear commitment to halve tax evasion by 2020.
"We need a growth package that includes the immediate introduction of a financial transaction tax, a clear commitment to halve tax evasion by 2020, the creation of a redemption fund to ease the debt burden, and the extension of the credit line for the European Investment Bank", said Hannes Swoboda to the press today.
During the press conference, Swoboda presented the main conclusions of a study by international expert Richard Murphy. The report shows striking evidence about the scale of tax evasion in Europe.
"Up to €1 trillion in potential tax revenue in the EU are lost every year because of tax evasion", said the S&D Group Leader.
"This is a big loss for national budgets. We have to take action. So many cuts have been proposed for months now but little attention has been given to the question of tax evasion", he added.
"EU governments could repay all public debt within 8 to 9 years with resolute action against tax evasion."
To reach this target, Hannes Swoboda explained that the EU should negotiate an agreement with Switzerland.
"It is very strange that each country is trying to do something with Switzerland and not the EU as a whole. We are weaker in promoting the taxing of capital than the United States of America", he stressed.
"The extra revenue could be used for public and private investment."
"With an additional sum of €200 billion, the EU could lift public investment from the current 2.7% of GDP to a realistic target of 3.5% within a few years. Investment that could be used to promote sustainable growth technologies", he added.
"With the eurozone officially be in recession this year, it is time to act", concluded Hannes Swoboda.
The full report 'Closing the European Tax Gap' is available here and an analysis of the key findings is available here.
Solange Hélin Villes
+ 32 2 283 21 47
+ 33 3 88 17 47 79
+ 32 476 51 01 72
Contact
SWOBODA Johannes (Hannes)
+ 33 3 88 17 57 16
+ 33 3 88 17 97 16
+ 32 2 284 57 16
+ 32 2 284 97 16
hannes.swoboda@europarl.europa.eu
+ 33 3 88 17 57 16
+ 33 3 88 17 97 16
+ 32 2 284 57 16
+ 32 2 284 97 16
hannes.swoboda@europarl.europa.eu
'Closing the European Tax Gap'. A report for the S&D Group by Richard Murphy FCA Director, Tax Research UK
EN
'Closing the European Tax Gap' and re-launching the economy and job creation - an analysis of the key findings
EN
Associated media
Hannes Swoboda - fiscal evasion - 120229
S&D Euro MPs call to halve tax evasion by 2020. 'We need a growth package that includes the immediate introduction of a financial transaction tax, a clear commitment to halve tax evasion by 2020, the creation of a redemption fund to ease the debt burden, and the extension of the credit line for the European Investment Bank', said Hannes Swoboda to the press today'
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