Building up a more sustainable and resilient European economy and completing Economic and Monetary Union should be priorities for the next European Commission and European Parliament: these points emerged from a public hearing held by the European Economic and Social Committee on 12 April 2019.
The euro ranks second in the world as a reserve currency and as a currency used for fixed income securities issues and international trade transactions. However, its use internationally has yet to return to levels before the financial crisis, and its future role in the international monetary system is tied to the economic prospects of the euro area.
As we emerge from the pandemic, we are invited to actively play a leading role in co-shaping a new vision for the EU. What is certain is that Europe’s future is closely linked to the future of its industry: strong ambitions require strong and innovative companies that have the means to meet the needs of the digital and green transitions while boosting EU competitiveness.
Europe and its Member States have to deliver wellbeing to the citizens and this can only be done through investments and jobs. This means that the impact which taxes and tax measures have on investments, jobs, trade and growth must be brought to the forefront of the debate.
While the OECD stresses that all taxes have the potential to discourage growth, its analysis of tax structures has found corporate taxes to be the form of taxation that is most harmful to economic growth. Empirical studies confirm that there is a negative relationship between corporate taxes and economic growth.
In order to encourage a broader and more balanced discussion on taxation, the Employers' Group requested that the EESC commission, in 2018, the study on The role of taxes on investment to increase jobs in the EU – An Assessment of Recent Policy Developments in the field of corporate taxes.
This brochure presents the EESC's opinions, position papers, resolutions and statements calling for the necessary measures to be taken at EU level, or commenting on those that have already been put forward, in order to tackle the economic effects of the COVID-19 pandemic. We pushed for a reconstruction and recovery plan that lives up to this unprecedented challenge.
In this brochure, we have put together a series of semester-related opinions and an information report in which the EESC makes policy recommendations on the various elements of the European Semester.