Business Recorder
STRASBOURG, (France): The European Parliament on Tuesday threw its weight behind a more ambitious and bigger long-term EU budget, demanding new taxes to ramp up future spending. The EU executive last year proposed a nearly two-trillion-euro ($2.3-trillion) long-term budget bazooka for 2028-2034 that includes paying off the bloc’s coronavirus-related debt. EU lawmakers rejected that proposal, and called on the European Union to rollover the debt to finance a 10-percent increase in spending and raise new money, notably through taxes on digital giants and online gambling. Their desire for a bigger budget has pit them against EU nations including Germany, which has the bloc’s largest economy. Berlin instead calls to cut spending in some areas.
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