Taxing billionaires for the EU to deliver on a wellbeing agenda

The S&D Group hosted a major youth event on 19 and 20 March at the European Parliament in Brussels. The two-day event brought together over 500 young Socialists and Social Democrats from all over the European Union, to discuss and debate the issues that concern them the most. 

They took part in 12 workshops on topical themes, which were organised in cooperation with FEPS, the Party of European Socialists, the PES Group in the Committee in the Regions and the Young European Socialists. 

On Wednesday 20 March, the young activists took part in panel debates in a public plenary session at the European Parliament Hemicycle with leading figures in the European Socialist and Social Democrat family. Watch the live streaming!

What was FEPS workshop ‘Taxing billionaires for the EU to deliver on a wellbeing agenda‘ about?

How to ensure social and climate justice in a society in which the difference between the ultra-rich and the rest of the society is increasing?

The Belgian Socialist Party, together with FEPS, Oxfam and other partners, have launched a European Citizens’ Initiative to put forward the idea of a European Wealth Tax that can provide financing space to fight inequalities and the ecological transition.

One million signatures are to be collected by October 2024 to force the European Commission to issue an official legislative proposal.

How to campaign on tax justice? Is it possible to galvanise people around the idea of taxing billionaires? And crucially, how to design a European Wealth Tax in a way that can truly serve its purpose?    

This workshop took place at FEPS’ headquarters.

Have a look at the campaign website and sign the European Citizens’ Initiative!

Background material: 

• FEPS Policy Study: A European wealth tax for a fair and green recovery 
• Short video: What-Why-How a European Wealth Tax
• Paul Magnette’s article in the Progressive Yearbook: Tax the Rich! chapter, pag. 79.
• Oxfam Briefing Paper: Survival of the Richest: How we must tax the super-rich now to fight inequality
• European Trade Unions Confederation (ETUC) Statement, December 2023, on Taxing the wealth for tackling social inequalities and climate change 

For more information regarding this event, please contact Vanessa Zwisele, Project Officer (vanessa.zwisele@feps-europe.eu)