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The
current EU budget, totaling around 1 trillion euros, runs from
2014 till 2020. The EU is keen to consider alternative revenues,
especially in view of Britain's planned departure from the
union, one of the largest contributors to its budget.
"I believe that Europe now has a window of opportunity to debate
questions of European revenue," Schelling told Austrian
parliamentarians, adding that a financial transaction tax would
only work if all EU states took part.
"I support the idea that one says 'Let's take the financial
transaction tax as a contribution to the European budget and
alleviate national budgets'. Then the discussion would be off
the table about whether such a tax would trigger competition
between the national states."
EU states have traditionally guarded very jealously their right
of veto over tax policy, especially when facing tight financial
constraints.
Germany's Finance Minister Wolfgang Schaeuble said earlier this
year he did not expect an agreement on the levy, whose
implementation has been repeatedly delayed, in the near future
and while the bloc is dealing with Britain's exit.
It is unlikely Schaeuble will change his stance until German
parliamentary elections in September.
The idea of using a financial transaction tax, among other
direct revenues, to bolster the European budget also featured in
a report by former European Commissioner Mario Monti.
Direct revenues currently account for about 10 percent of the
EU's budget. Such money could come from a share of national
taxes and duties on electricity, motor fuel, or "other revenue
stemming from EU policies", the report said.
(Reporting By Shadia Nasralla; Editing by Hugh Lawson)
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