AP calls for tax on financial transactions and crypto assets

The European Parliament (EP) has requested that taxes be levied on companies, financial transactions and crypto assets in order to repay the common debts of the European Union (EU) and finance various programs. The status of the Union's budget and the increase in revenue sources were discussed at the EP General Assembly session held in Strasbourg. The MEPs accepted the report prepared on introducing new own resources to the budget with 356 "yes" votes to 199 "no" votes. The report indicated that EU finances needed to be reformed rapidly in order to implement Union policies, meet targets and ensure trust. The report, which drew attention to the fact that new challenges were putting the EU budget under pressure, stated that own resources would not be sufficient to cover the repayments and borrowing costs of the EU's recovery program. The report reminded that the EU would have to pay an average of at least 15 billion euros per year until 2058 within the framework of the recovery program. The report noted that the economic and social shock and inflation caused by the Russia-Ukraine War had a heavy impact on the EU budget, and pointed out the importance of providing additional sources of income to the EU. The report reminded that the EU budget will have to repay the debt incurred under the recovery program without jeopardizing investments and other Union programs, and called for the EU budget to be taxed on corporations, financial transactions, and carbon taxes at the border.