EU leaders task President Costa with finding new bloc-wide taxes
European Council President António Costa is now leading talks to create EU-wide taxes to fund the next long-term budget after leaders failed to agree on contributions.
Following an inconclusive European Council summit, President António Costa assumed responsibility for shaping new EU-wide taxes to finance the bloc’s upcoming long-term budget. With national governments reluctant to increase their contributions, Costa is evaluating a range of options, including taxes on big firms, digital platforms, tobacco, carbon emissions and online gambling. The Irish proposal to retain the Corporate Resource for Europe (CORE) and a tobacco excise duty faced criticism, while the Parliament suggested a digital levy that could generate up to €25 billion annually.
Other ideas, such as diverting a share of emissions-trading revenues or linking a tax to electronic waste, have attracted varying levels of support. Opposition remains strong from countries like Poland, Luxembourg and Malta on specific measures. An EU official indicated that all proposals remain on the table and that the mix of resources will be adjusted to balance impacts across member states.
Why it matters
EU-wide taxes will determine how the bloc finances its priorities without overburdening national budgets.
How this story developed
- Sep 1 Germany pushes for deeper Japan partnership to cut chip reliance on China
- Sep 15 German firms have moved to partner with Japanese companies on chip components.
- Sep 21 EU trade commissioner Maroš Šefčovič scheduled a visit to China to discuss the export curbing request.
- Sep 24 Prime Minister Mark Carney said his government has studied the possibility of a US-led military move against Canada, calling it an extreme tail risk, while noting frequent talks with President Donald Trump amid a worsening trade dispute.
- Sep 24 Chinese firms have moved from exploring to setting up joint electric‑car assembly projects in Graz.
- Sep 27 The United States imposed 50 % duties on $28 billion of Canadian imports.
- Oct 5 France and Germany have formally pushed for fast‑acting EU trade tools to counter market distortions.
- Oct 7 EU trade commissioner Maros Sefcovic is set to travel to Beijing for talks on trade frictions.
- Oct 9 EU ministers approved a market-stability reserve that will automatically adjust the supply of emission allowances, aiming to limit price spikes ahead of the full rollout of ETS 2 in 2028.
- Oct 9 President Lai Ching-te will use his National Day speech to stress economic expansion, new welfare measures and Taiwan’s geopolitical stance.
- Oct 10 The European Parliament held the vote on the China‑related resolution.
- Oct 11 Lai now vows to protect freedom and stresses parity in defence as part of his National Day address.
- Oct 16 A €45 price trigger and a strengthened market‑stability reserve were adopted.
- Oct 16 EU Trade Commissioner Maroš Šefčovič secured a deal with China to halve hybrid car imports over four years.
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