The ECB has repeatedly argued that consumer spending would increasingly support growth, against a backdrop of slowing inflation and rising real incomes, and it’s likely to take the news as vindicating that argument. At the national level, Germany, Spain and France posted better-than-expected growth, while Italy’s came in below expectations. Ireland performed best, growing 2 … Read more
A harder line on migration Barnier’s speech will reveal how far his government wants to go on fighting illegal migration. While Barnier is seen in EU circles as a creature of Brussels given his work as the bloc’s Brexit negotiator, his political positions lean conservative — especially in terms of migration. Barnier’s new junior Europe … Read more
The so-called exceptional contribution on the profits of big companies would consist in raising from 25 percent to 33.5 percent the tax rate on profits of companies with a turnover above €1 billion, according to Le Monde. The measure would impact around 300 companies and could bring to state coffers around €8 billion a year, … Read more
“The French want and need more justice,” he said, noting that, in parallel, his government will “make efforts to have a better use of public money.” France is currently facing a so-called excessive deficit procedure in Brussels for overspending last year. France’s deficit ― the difference between how much it spends and how much it … Read more
4) Labour is boxed in on tax The theater around Monday’s speech is seen by many as an attempt to roll the pitch for potential, undisclosed tax rises in October, when Reeves will deliver her first budget. And that’s what the Tories are arguing, too. “She will fool absolutely no one with a shameless attempt … Read more
“The good news is that France has so far remained in control of its own destiny,” Council members Adrien Auclert, Thomas Philippon and Xavier Ragot wrote. “Our debt is the direct consequence of our budgetary choices. It is not the mechanical accumulation of a snowball thrown down a steep hill” as opposed to Italy, where public debt … Read more
“Enjoy the human side of electioneering,” Aitken similarly urged. “There’s always humor, there’s always humanity, there’s always stories, there’s always a chance to enjoy a pint. And don’t show your own pessimism to your supporters.” When the moment comes, “losing well and graciously is important,” he said. “Politics is purely, completely unpredictable, and you’ve got … Read more
Slower growth comes on the back of households counting the pennies as they are confronted with higher borrowing rates and decreasing state help to cover energy costs, which shot up after Russia invaded Ukraine two years ago. “After a bruising 2023, the European economy has emerged a little weaker than expected, although the rebound should … Read more
EU finance ministers will call on G20 countries to finalize global corporate tax reforms that would hit international companies such as U.S. tech giants Google, Amazon and Apple, according to a document obtained by POLITICO. The EU’s “Terms of Reference,” drawn up by national treasury officials, will serve as the basis of the bloc’s negotiating … Read more
The last-minute agreement saves the European Commission’s proposed reform of the framework, which aims to slash debt ratios and deficits while maintaining investment in “strategic areas such as digital, green, social or defense,” the Council said. Under the terms of the agreement member countries will still be required to submit national medium-term fiscal structural plans … Read more
