Merz rejects company tax and joint borrowing in EU budget plans
On Thursday, German Chancellor Friedrich Merz expressed opposition to two of the European Commission's proposals for new revenue sources in the EU's upcoming long-term budget.
In its plan, presented Wednesday, the Commission proposed an EU tax on high-turnover companies and a €400 billion crisis fund, potentially to be financed via joint borrowing. The plan fired the starting gun for what will be two years of haggling between the EU executive, national capitals and the European Parliament, all of which must agree before the spending plan can be approved, News.Az reports citing Politico.
“There is no question of the European Union taxing companies, as the European Union has no legal basis for this," Merz said during a joint press conference with British Prime Minister Keir Starmer in London. "I can rule out the possibility of Germany going down this route. We are not doing that."
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