A minimum tax of 2% on centi-millionaires, i.e. people with investable liquid assets of €100 million or more, could raise €67 billion a year, according to the EU Tax Observatory in a policy note published on Monday 17 March.
A 3% tax could generate €121 billion in tax revenue. According to a recent note by the European think-tank Bruegel, the EU needs an extra €250 billion a year to meet its defence investment needs. What’s more, Mario Draghi’s report on the future of...