EU budget chief: could use part of oil tax to finance EU

The European Union's budget chief is suggesting that member countries could in the future put aside a portion of their tax revenues from oil to help finance the bloc.

EU Budget Commission Guenther Oettinger said in an interview Tuesday with his native Germany's Handelsblatt daily that it's worth considering setting aside "a small part" of oil tax revenue for the EU, perhaps one or two cents per liter.

He argued that it would allow countries such as Germany to reduce their direct contributions to the EU budget and use the money they save for tax cuts at home.

Oettinger also suggested that money gained from an increase in the cost of carbon dioxide emissions trading certificates could be put into the EU.



Add Comment

all comments

  Other news

more
Arthur Collins charged over London nightclub 'acid attack'

Arthur Collins charged over London nightclub 'acid attack'..

23-Apr, 18:23

The boyfriend of The Only Way Is Essex star Ferne McCann has been charged...

Geeks vs government

Geeks vs government..

23-Apr, 20:46

Two graduate students stood silently beside a lectern, listening as their...

Saudi Arabia's King Salman reverses public sector pay cuts

Saudi Arabia's King Salman reverses public sector pay cuts..

23-Apr, 02:48

Saudi Arabia's King Salman has reinstated bonuses and special allowances...

Anthony McSweeney case: Abuse priest failings found

Anthony McSweeney case: Abuse priest failings found..

23-Apr, 04:48

Concerns raised about a Catholic priest later jailed for sexual assault...

Boom! World's Top Supersonic Speed Demons

Boom! World's Top Supersonic Speed Demons..

04-Mar, 05:38

Bullets. Artillery. Horse whips. For a time, they all could do...

Falling bank stocks nudge S&P 500 a bit further from record

Falling bank stocks nudge S&P 500 a bit further from record..

17-Feb, 10:12

U.S. stock indexes took a modest step back Thursday, though they remain...

Madagascar lashed by rain, wind from Cyclone Enawo

Madagascar lashed by rain, wind from Cyclone Enawo..

07-Mar, 07:24

Heavy rains and strong winds from a cyclone are hitting northeast...

Hello Episode 310

Hello Episode 310..

30-Jan, 21:58

The following Hello Episode 310 English Sub has been released. Full HD...