Thursday August 6, 2020

Comment: EU recovery fund offers a chance for radical green tax reform

Governments hit by Covid-19 need to boost demand while also progressing towards carbon neutrality, and the solution lies in shifting the tax burden from work to pollution

16th July, 2020
Carbon emissions are taxed at about €20 per tonne but that needs to rise €70 by 2030 to be meet the emissions reduction targets in the Paris Climate Agreement, according to the World Bank

Tomorrow and Saturday, EU leaders will meet in Brussels to try to reach an agreement on the bloc’s proposed €750 billion recovery fund. Member states disagree on several issues, including the shares of grants and loans in the package and which conditions, if any, should be attached to the disbursements.

But once leaders clinch a deal, the most important question will be how member states should spend the money. The answer is far...

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