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EU Floats Taxing 70,000 Companies for Market Access, FT Reports

  • Would help EU fund historic 750 billion-euro recovery package
  • Budget chief sees no alternative to EU revenue-raising powers
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The European Union could charge 70,000 companies for access to the EU market to help pay for its coronavirus recovery program, Budget Commissioner Johannes Hahn was quoted as saying in a Financial Times interview.

Hahn said there’s no alternative to giving the European Commission new sources of revenue to service the debt it would take on under the 750 billion-euro ($833 billion) plan, according to the FT. He called on EU member countries to back the company tax.