Why?

The economy of the future is being created now. 21st century challenges are upon us: global public health, climate change, biodiversity loss, inequalities, gender disparity and threats to cohesion. Fiscal and economic policy coordination are decisive to steer the required transformation of European economies and societies. 

The reformed 2024 EU fiscal rules will prevent the necessary investments in our future as they maintain a nearly exclusive focus on quantitative debt-to-GDP and deficit-to-GDP ratios, without adequate consideration to the quality of public spending and social and climate-related fiscal risks. These rules will weaken the EU’s economy, force unnecessary political decisions to defund one area to finance another and slow the just transition. New resources are needed to deliver shared prosperity and to meet our climate, environmental and social goals. 
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What?

Fiscal Matters is supporting efforts for a long-term green and social public investment fund, for progressive taxation and for ensuring that public funds to companies generate social and environmental benefits.

Fiscal Matters is a coalition of trade unions, civil society organisations and think tanks that  work on progressive approaches to public finance. We campaign together, develop joint positions and engage with EU decision-making on these issues. 

Recent publications include an open letter to newly-elected Members of the European Parliament asking them to support a Next Generation 2.0 fund to finance a more resilient, prosperous, sustainable and inclusive Europe and a joint  policy paper on social and environmental conditions. 
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History

Fiscal Matters was established when the EU decided to reform its fiscal rules in 2021. We organised a  week of debate that kicked off discussions on progressive European fiscal policy in 2021, where we brought together high-level policy makers and prominent economists. In the following years we focused our efforts on influencing the Commission proposal and subsequent negotiations in the European Parliament and Council, developing our own research and publishing common demands. We launched the campaign #FundOurFuture calling on politicians to design fiscal rules that ensure all member states can transform their economies, attract new green manufacturing, create good quality jobs and reduce the cost of living through more energy-efficient and affordable homes, adequate social protection systems, more accessible public transport and available and affordable public services.

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Who?

We are FiscalMatters - a group of civil society organisations, think tanks and trade union leaders, including:

● The European Trade Union Confederation
● The European Environment Bureau
● The European Youth Forum
● Climate Action Network Europe
● Finance Watch
● New Economics Foundation
● Greentervention
● Sustainable Finance Lab
● Social Platform

● ZOE Institute for Future-fit Economies 

● European Anti-Poverty Network

● Fiscal Future 

As academics, civil society, trade union leaders, activists and citizens, we are deeply concerned that the current fiscal framework prioritises debt reduction and balanced budgets over much more important human, economic and environmental outcomes – like creating well paid green jobs, lifting millions out of poverty, and implementing much needed green infrastructure projects. Accordingly, we work collaboratively to overhaul the current approach to fiscal policy and reshape our economies and tackle the unprecedented challenges facing the EU head on.  

 

Get in touch with us to join the coalition and subscribe to our mailing list.