German Finance Minister Calls for EU Tax on Unexpected Corporate Profits to Tackle Energy Prices

German finance minister Lars Klingbeil argued that the surge in energy prices, driven by wars in the Middle East and Ukraine, demands action from the European Commission. He reiterated his call for proposals to lower energy costs across the continent and advocated for a Europe-wide tax on unexpected corporate profits, especially those earned by oil firms. Klingbeil pointed to the 2022 example of such a tax and stressed that a unified EU strategy is preferable to fragmented national measures, citing Greece and Italy’s appeals for more fiscal leeway.

He noted that many European states are already pursuing national solutions but urged the Commission to accelerate its response. When asked about France’s fiscal difficulties and bond market tensions, he declined to speculate but said the situation is under close observation. The minister’s remarks aim to shape future EU policy on the energy crisis.