Tax Policy Key to Strengthening EU Finances, Report Says

Europe needs to strengthen its tax collection, broaden the tax base and prepare for lower revenues from labor taxes as its population ages, according to a new EU report.

The report, published by the European Commission’s economic and financial affairs department on Monday, provided an overview of Europe’s public finances. It is meant to inform the EU’s policymaking as the commission begins another five-year term.

• It noted that Europe’s reliance on taxes on labor will put pressure on revenues as Europe’s population ages. Further, public expenditure on health care, long-term care and pensions will increase. As a result, ...