European Central Bank official proposes taxing the rich and super-profits

SOLUTION: “Governments must support the income and consumption of households and businesses that suffer the most,” said Philip Lane.

The chief economist of the European Central Bank wants to prevent the public deficit from increasing. Financing aid to the most disadvantaged in the face of inflationPhilip Lane suggests instead taxing high income or corporate superprofits.

For both macroeconomic and fairness reasons, as the energy shock hits people through record inflation, “governments should support the income and consumption of households and businesses that suffer the most,” said Philip Lane in a daily interview. Austrian The standard released on Tuesday. “The big question is whether some of this support should be funded by tax increases for the rich,” he continues.

These “very profitable” companies

His answer: “It could take the form of higher taxes on high incomes or on industries and companies that are very profitable despite the energy shock,” such as Total that generated record profits, believes this influential member of the governing board of the monetary institute.

The ECB advocates state aid aimed at protecting households from the impact of inflation, as its president said again on Monday cristina lagarde in front of (…) Read more in 20 minutes

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