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A draft petition aimed at creating a European tax on large fortunes tabled in Brussels


Will we see, in 2024, a major political debate on the creation of a European wealth tax targeting the richest 1%? This is the objective of two figures of the European social-democratic camp, the Belgian Paul Magnette, president of the Socialist Party and former federal climate minister, and the Frenchwoman Aurore Lalucq, economist and MEP Public Square.

As learned by the Worldthese two elected on the left are preparing to file together, Thursday, June 8, with the European Commission, a request for the launch of a “European citizens’ initiative” (ECI) calling for the establishment of a solidarity tax on wealth ( ISF) European to finance the ecological transition.

Behind this term “citizens’ initiative” hides a relatively unknown instrument of European democracy. Close to the French shared initiative referendum, this superpetition, if it is consistent and brings together more than a million signatories in at least seven countries in one year, can lead, in the most favorable scenario, to the development of a proposal for a European directive. Or, at the very least, on the opening of a political discussion – which would already constitute progress, according to the promoters of the project.

A climate and social issue

“The subject of taxation of the ultra-rich has disappeared from the political agenda, regret Aurora Lalucq. However, it is tax revenue that the States are lacking. After forty years of running for the lowest tax bidder, we find ourselves in this situation where everywhere in the world, the very, very rich are much less taxed than other taxpayers in proportion to their income, because they benefit from a tax advantageous on the capital or that they have the capacity to organize themselves to reduce tax. » The MEP says she is in favor of an open debate on the base and the rate of this European ISF.

“The aim is to demand from the European Commission that it proposes a European tax on large fortunes, continues Paul Magnette, who came up with the idea of ​​the citizens’ initiative. The proceeds will be used to finance the climate, environmental and social transition. » According to them, this is an issue of social justice because more than half of the investments linked to this transition will not be profitable and it will be impossible for the poorest households to finance the necessary expenses, such as thermal renovation of housing. “We will have to find money to finance public investments linked to the transition and protect the most vulnerable”, supports Aurore Lalucq. An analysis which echoes the proposal formulated by the economist Jean Pisani-Ferry of a “green ISF” levied on the heritage of the wealthiest 10%.

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