Large taxes are not the way to sustainability: Economic Chief Threatens EU Innovation.

Paolo Gentiloni, Brussels’ next economic chief has begun a warpath that has the potential to hinder the EU’s sustainability and innovation.  

Gentiloni wants to raise taxes on polluting companies. 

Over the past few years, discussions such as these regarding large tax increases have been gridlocked and for good reason. The proposed increase in taxes does nothing but hurt consumers, businesses, and political relations. 

Even worse, taxes like these will deeply threaten European countries’ ability to compete on the international level. A worry that has been voiced by a number of parliament officials. “I’m worried for the entire [Commission] term,” said Hungary’s Enikő Győri, a member of the European People’s Party. “What I’ve heard on taxation is really crazy. How will we compete on the international level?”

As we have talked about in many of our past articles, taxation does not help the environment or competition. Taxes prevent investments into innovation, and hiders the ability for EU companies to compete. 

These tax regulations will raise prices of needed consumer products, hurting consumers and businesses alike. These tax regulations will likely result in worse trade relations with the U.S further worsening the economic environment of the EU.

These taxes cannot be allowed to pass. 

We have to believe in consumers’ freedom of choice, and that if we educate them, they will make the right decisions. We cannot take away European businesses’ ability to compete on a global scale. 

Help us promote the free market economy. Help us promote European prosperity.