EURONUTS: The tax loonies just keep on trying…

An internal EU Commission paper is outlining plans for a new tax on all types of natural resources, to create incentives for businesses to use them more efficiently.

The tax would include both renewable resources such as wood, as well as minerals and fossil fuels.

The paper argues that increased efficiency would make countries more competitive internationally, stating that an increase in efficiency of 20 percent would lead to additional economic growth of 1 percent. The paper does not state explicitly whether the tax receipts should be used to directly fund the EU budget, as was proposed last week.

Journalist Hendrik Kafsack opines.

” It would probably be ‘most efficient’ if the Commission spent its resources on more reasonable projects.”

Hard to argue with that, really.