Ahead of the ECOFIN meeting in Luxembourg on 20 June, CAN Europe has written, with several other civil society organisations, to EU finance ministers – to call for the urgent need to establish new, fair, and sustainable resources for the European Union.
The European Union is entering a new phase, with evolving priorities that require a stronger financial foundation. From driving the just green transition and enhancing social inclusion to advancing cohesion and industrial policy while fulfilling international cooperation with partners, these ambitions cannot be achieved without additional resources.
A significant portion of the EU’s resources is also needed to repay the Recovery and Resilience Facility, which was instrumental in supporting Europe’s recovery amidst multiple crises. Looking ahead, the EU must retain the capacity to respond to new challenges and abide by its human rights commitments, including through common borrowing to finance European and global public goods. Ensuring that such debt is backed by genuine own resources is not only a question of fiscal prudence, but it is also essential to build a stronger and more resilient Union.
Read the letter to finance ministers and annex on Progressive Taxation Options as EU Own Resources
