The EU Tax Symposium, held on 18 March at the European Parliament in Brussels, brought together policymakers, economists, trade unions and industry leaders.

The reality is clear: a small elite continues to accumulate extraordinary wealth at the expense of the wider population, while paying unfairly low taxes. This isn’t simply unjust—it’s a direct threat to the very principles of economic justice. If we are to strengthen competitiveness in the EU, as the European Commission often stresses, it must be built on a tax system that ensures fairness, where those with the greatest wealth contribute their fair share, while also protecting our vital public services.

During this event, Esther Lynch, General Secretary of the European Trade Union Confederation (ETUC), reminded us that the concentration of profit at the top is not only an economic issue, it’s a democratic one. The ultra-wealthy use their power to influence decisions at the European level, undermining the principles of democracy and fairness.

Left MEP Pasquale Tridico (Movimento  5 Stelle, Italy), Chair of the Subcommittee on Tax Matters said: “A study from EU Tax Observatory led by the French economist Gabriel ZUCMAN shows that it is possible today to raise €120 billion by increasing taxes by 3% on the ultra-wealthy in Europe. These ultra-wealthy individuals wouldn’t even notice, especially since, at present, they pay almost no taxes compared to workers. Tax equality is a necessity, not only from a moral perspective but it is also functional to generate economic growth and support our welfare system”.

It is not acceptable for the ultra-wealthy to shield their fortunes through loopholes and tax havens. By ensuring that the wealthiest individuals and multinationals pay their fair share, we create the resources needed to invest in education, healthcare, infrastructure, and climate action, areas that will truly drive long-term prosperity for all, not just the privileged few.