Brussels (The Brussels Morning Newspaper) – Italian economist Pasquale Tridico, elected as chair of the Committee on Tax Matters, advocates for fairer taxation, addressing tax evasion, and improving fiscal balance in the EU.
Italian economist MEP Pasquale Tridico has been elected as chair of the Committee on Tax Matters. He belongs to the Five Star Movement. He was elected a member of the European Parliament in 2024. He also acted as president of the National Institute for Social Security from 2019 to 2023.
What Are Tridico’s Main Priorities as Committee Chair?
On his election as chair of the committee, he emphasized the importance of creating a fairer and more progressive taxation system and addressing tax evasion through the integration of digital databases and payments. He noted that the European Union has a significant role in achieving this goal. He pointed out that currently, citizens and small and medium-sized enterprises (SMEs) face disproportionately higher tax rates compared to multinational corporations, leading to unfair competition and tax avoidance across Member States.
How Does Tridico Plan to Address Tax Evasion?
Moreover, he mentioned that the Global Tax Evasion Report estimates that wealthy multinationals and super-corporations could generate $4.8 trillion in profits by moving offshore over the next decade. He warned that this potential outcome poses a substantial risk to public budgets. He stressed that the EU must act decisively and courageously to prevent the erosion of citizens’ trust and the exacerbation of global financial inequality.
What Fiscal Balance Changes Does the European Commission Advocate?
Lastly, he noted that the European Commission has consistently emphasized the need for improved fiscal balance among member states and advocated for a reduction in taxes on labour while increasing taxes on other inputs, including speculative capital and financial rents. He expressed support for this approach, suggesting that it could serve as the foundation for establishing centralized funding to support a new European welfare system.
