Europe Can Spend
Its Way to Growth
A financial
transaction tax and a more efficient fight against tax evasion could channel
additional funds into national treasuries.
By HANNES
SWOBODA
... Alternatives should be
developed without giving up the goal of balanced budgets. The fact that the
current recession was preceded by a decrease of public investment in measures
and policies that produce growth and employment clearly indicates that these
must be the starting point of an alternative strategy. In the evaluation of
national budgets, investment in growth and employment should be given priority.
Expenditures for these purposes should not be integrated in calculations of
structural deficits and hence be punished because investment in growth
generates income and taxes and therefore revenues for the state...
Mr. Swoboda, a
member of the European Parliament from Austria, is president of the Progressive
Alliance of Socialists and Democrats in the European Parliament.
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