Approaches and Suggestions to Overcome the Corona Crisis

Every day there are new reports, updates and information on the corona crisis.

The consequences and limitations of this crisis are the most serious we have experienced since the Second World War. Not only does the corona virus pose a danger to life and limb, it also destroys and threatens the subsistence of many people and companies.

It is necessary to keep the damage to society as low as possible. It is quite clear that everything must now be done to protect the population and at the same time help the people and companies affected by this crisis. Now the countries and the EU have a responsibility! For it is to be feared that the effects of the crisis will continue to be felt for a long time to come. Immense sums of taxpayers' money are needed to deal with it. The available resources are far from sufficient. Consequently, to meet these challenges, countries will have to take on billions of new debts and additional liabilities.

Even in the crisis, however, it is important to keep a cool head and find sustainable solutions. Public funds and resources must be used as efficiently as possible. 

It is annoying that, under the pretext of managing the corona crisis, some politicians are trying to push through comprehensive changes in European financial and fiscal policy that were previously unenforceable for good reason. The European Taxpayers Association (TAE) warns strongly against debt communitisation, corona bonds , additional taxes as well as tax harmonisation (minimum tax rates), mandatory alignment of all social security systems, as well as against throwing overboard any and all inhibitions regarding the indebtedness of some EU member states.

Instead of talking about debt communitization, EU members should first take all measures in their countries to get people and businesses through the corona crisis in good shape.

It is important, even during the corona crisis, to not only think about financial aid! Especially now in the crisis, taxes and duties should be cut and bureaucracy reduced. It is now more necessary than ever to unburden people and companies. This releases purchasing power and creates optimal conditions for future growth.

With this paper, the European Taxpayers Association wants to provide food for thought and suggestions as to how one could act from the standpoint of the taxpayers in order to help quickly and sustainably and mitigate the consequences of the corona crisis.

Download TAE Paper

Taxpayers Association of Europe, Office Munich:
Nymphenburger Strasse 118, D-80636 Munich
Tel.: +49 89 126 00 820 | Fax: +49 89 126 00 847

Taxpayers Association of Europe, Office Brussels:
Dr Horst Heitz, Rue de Pascale 22,  B-1040 Brussels
Tel.: +32 2 588 15 20