MEPs exchange views on economic dialogue with Olaf SCHOLZ, ECOFIN Chair, German Federal Minister of Finance and German Vice Chancellor, during a meeting of the Committee on Economic and Monetary Affairs in the European Parliament in Brussels.

Brussels

exchange of views

Committee on Economic and Monetary Affairs

Multiannual financial framework 2021-2027 (T)

SCHOLZ, Olaf (DE)

Recovery plan for Europe (T)

Exchange of views with Olaf SCHOLZ, ECOFIN Chair, German Federal Minister of Finance and German Vice Chancellor: extracts from the debate

SOUNDBITE (German), Olaf SCHOLZ, Federal Minister for Finance, With the recovery package, we have a new level of common financial policy, and I think it's important that we use this opportunity to work further on EU fiscal integration.

SOUNDBITE (German), Olaf SCHOLZ, Federal Minister for Finance, We know that there are large multinational companies that are active in the digital economy that are very successful, but are only paying a very low rate of taxation even though they're making so much money. That's something we need to find solutions  and I think we need an international approach to tackle this.

SOUNDBITE (German), Olaf SCHOLZ, Federal Minister for Finance, I think that was, again, a big step forward. And in general, I believe that we need to spend this money now while we're in the crisis, so we can go over the crisis. The money shouldn't be spent afterwards. Obviously, if we borrow money, we have to pay it back and this is already envisaged in the MFF.

SOUNDBITE (German), Olaf SCHOLZ, Federal Minister for Finance, On the emissions trading scheme and broadening that to air and maritime transport, for example, I think the question marks here are not necessarily from the member states. I think there is generally support there. I think we probably can find a solution here. We just need to work out some of the technical details, perhaps look at some alternatives like amendments that will achieve the same result. We have the plastic tax, which isn't really a tax, even though that's what we're calling them. This is looking at plastic use in the member states, plastic that can't then be recycled further.

SOUNDBITE (German), Olaf SCHOLZ, Federal Minister for Finance, I think we will be able to find a solution when it comes to the digital transaction tax, it is something where we need to find a solution to. I know a number of countries have made commitments to pushing this forward. There has been some that have reacted very badly to this, but it is important we get some kind of global consensus. And I hope we can do that in this autumn.