Portuguese socialist leader at EU level, defends creation of European taxes on transnational companies

The main candidate representing the Portuguese Socialist Party for the next round of European elections, Pedro Marques, is defending that “increasing revenue at EU level” is the only way to create a “more ambitious budget plan for the EU”, and that this should pass through the application of taxes on transnational corporates.

Interviewed by a national newspaper, Público and a national radio broadcast, Renascença, he stated that it is “not worth it to start creating fears around the issue of taxation at Eu level on those companies, given that these are not even yet part of EU law”. However, he guarantees that “the increase in EU’s revenue, and financial leverage, will be the only way for the European budget to become more ambitious, and for Portugal to charge fewer taxes to their citizens and their own companies”.

The former minister added that “the party is ready to discuss the possibility of the EU to create its own revenue from taxation on the digital sector and other European transactions. Also, we will never be able to go forward with this plan if only one country decides to apply it alone. If we set a tax which is applied to transnational companies which pay nothing or close to nothing, everywhere, and transform that into European revenue, we do not have to create any additional tax or raise any financial contributions back home”, he explained.

When asked if the EU is prepared to get through a new crisis, Pedro Marques noted that “the region has made important progress in setting economic stimulus and creating stability instruments, which can be useful in the event that we go through a similar crisis like that of 2008”.

“Several countries in the EU have a budgetary surplus. And we are well prepared in comparison to those times because our deficit level is close to zero. If the idea that there will be a prolonged economic slowdown coming to hit the EU is confirmed, then the countries which have a budgetary surplus must contribute more to rebalance the economy at EU level”, he noted.

Marques added that the increase in populism was, in his opinion, justified by the economic crisis that was witnessed all throughout  Europe. And in that sense, he defends that a “network and coalition of progressive thinkers which believe in the European project” should be created.