This European survey examines (a) Creation of a more unified capital market in Europe - with a common pool of capital, a single rule book and a strengthened European Securities and Markets Authority, comparable to the US Securities and Exchange Commission – would lead to a substantial shift in the balance of companies listing their shares in the EU vis-a-vis the US; (b) Creation of a more unified capital market in Europe - with a common pool of capital, a single rule book and a strengthened European Securities and Markets Authority, comparable to the US Securities and Exchange Commission – would substantially increase the availability of funding for start-ups and growing companies across the EU
Keyword: investment
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This Finance survey examines (a) Large-scale stock buybacks by public corporations provide short-term rewards for shareholders and senior executives at the expense of potentially higher-return corporate investments; (b) The proposed higher tax on corporate stock buybacks (an increase from 1% to 4%) would generate substantial public revenues; (c) The proposed higher tax on corporate stock buybacks would generate a substantial increase in corporate investment
Leaders of the advanced economies of the G7 recently made what they described as a ‘historic commitment’ on taxation of multinational corporations. We invited both our European and US panels to express their views on some of the issues surrounding the global deal on corporate taxes: the impact of a global minimum rate on investment, profit-shifting and low-tax jurisdictions; whether a stable international tax system that includes a global minimum rate can be achieved; and a potential move from levying taxes based on where firms’ headquarters and production are located to where they make their sales.
Leaders of the advanced economies of the G7 recently made what they described as a ‘historic commitment’ on taxation of multinational corporations. We invited both our European and US panels to express their views on some of the issues surrounding the global deal on corporate taxes: the impact of a global minimum rate on investment, profit-shifting and low-tax jurisdictions; whether a stable international tax system that includes a global minimum rate can be achieved; and a potential move from levying taxes based on where firms’ headquarters and production are located to where they make their sales.
This week's European Economic Experts Panel statements:
A) Offering substantially higher prices per dose would have resulted in larger capacity investments by vaccine makers and accelerated distribution in Europe significantly.
B) In the current situation, paying for more production capacity would be better than offering higher prices for vaccines.
C) If the EU started paying prices above 100 euros per dose, it would on net reduce the cost of the pandemic to the EU via more lives saved and shorter lockdowns.
This week’s IGM Economic Experts Panel statements:
A) A comprehensive policy response to the coronavirus will involve tolerating a very large contraction in economic activity until the spread of infections has dropped significantly.
B) Abandoning severe lockdowns at a time when the likelihood of a resurgence in infections remains high will lead to greater total economic damage than sustaining the lockdowns to eliminate the resurgence risk.
C) Optimally, the government would invest more than it is currently doing in expanding treatment capacity through steps such as building temporary hospitals, accelerating testing, making more masks and ventilators, and providing financial incentives for the production of a successful vaccine.
This week’s IGM Economic Experts Panel statement:
China’s growth model, specifically the unusually high investment rate and low consumption rate, is unsustainable.
This week’s IGM Economic Experts Panel statements:
A) Lowering the effective marginal tax rate on US corporations’ repatriated profits for a year would boost US capital investment significantly.
B) Permanently lowering the effective marginal tax rate on US corporations’ repatriated profits, such as by moving to a territorial-based tax system, would boost US capital investment significantly.
This week’s IGM Economic Experts Panel statements:
A: If the United States fails to make scheduled interest or principal payments on government debt securities, even as an unintended consequence of political brinksmanship, US families and businesses are likely to suffer severe economic harm.
B: With or without a default, current uncertainty over future taxing and spending policies of the US government is likely to depress private investment and hiring by enough to reduce GDP growth by at least a quarter of a percentage point over the next 12 months.
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