BRUSSELS—The European Commission proposed on Wednesday three new EU-wide taxes to help to repay the joint government borrowing in the 27-nation bloc for their 800 billion euro ($904 billion) COVID-19 recovery fund. The first measure will introduce a levy on CO2 emitted by fuels for buildings and cars under a new carbon market, while using the EU’s existing carbon trading system to impose CO2 costs on ships and increase existing payments from airlines. A quarter of such CO2 revenues, which currently largely go to governments, would in future go to the EU budget, providing 12 billion euros annually on average from 2026 to 2030, according to the Commission’s proposal. The second would impose carbon costs on imports of goods from countries with weaker CO2 emissions standards, with three quarters of those proceeds going to the EU budget, providing 1 billion euros per year on average over 2026–2030. The third tax …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta