ROUND TABLE
An efficient financial market for tax credits for European economic policies for economic and social
In collaboration with National Federation of Construction and Infrastructure Design C.N.L.
| Date: | January 24, 2024 |
| Time: | 10:30 a.m. – 12:30 p.m. |
| Place: | Room 7H1 Spinelli, Brussels Palace of the European Parliament |
| Abstract: | |
| Fiscal credit is a classic economic policy tool, much more efficient and cost-saving than direct borrowing by states carried out on the capital market. For it to work and to be able to effectively activate the classic economic multiplier, it is necessary that the tax credit recognized and granted by the nation state must be assignable and divisible, otherwise it it remains harnessed in the tax drawer, thus crippled. What is needed, however, is an efficient financial market, technically trained in the merits of this instrument that can transfer the tax credits by making this instrument available for investment, with attention to its use in tax offsets, and thus be effectively utilized by those with capacity fiscally. The U.S. with the IRA – “Inflation Reduction Act” program is showing the world how to invest about $500 billion mainly in tax credits earmarked for efficient energy. Already in its first year of operation IRA has had a major influence on the result of +4.9% progress in U.S. GDP. Italy has also demonstrated, despite the technical and operational difficulties, that the post-pandemic GDP progress was driven in an important way by the construction supported by energy efficiency and seismic programs. Europe, with such examples cannot stand by and watch, but must seize the pragmatic inspiration to support the European economic policy also by recommending in the right proportions to the tax revenue of the country the use of tax credit, regulating it. The goal of the roundtable is to show European decision makers the concrete possibilities of an economic and social progress also supported by the tax credit instrument, making fruitful economic multiplier, through the establishment and of an efficient market finance, through the views of qualified financial, banking, legal, tax, technical and consultants in the field. This initiative promoted by the research center CERSTE – Centre Européen des Recherches Socio-économiques, Technologiques et Environnementales – is viewed with interest and supported multi-partisanly because of the common interest in placing efficient new resources earmarked for European growth. | |
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Notes:
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