| dc.description.abstract | The European Commission’s October Report ‘European Values in a Globalised World’, its contribution to the Informal Summit of Heads of State and Government on 27 October in the UK states that unless we are able to change, the forces of global competition, the impact of new technologies and our ageing population will call our economic success and the financial viability of our social systems – pensions, welfare, health – into question. There is an urgent need to move ahead with economic reforms and the modernisation of our social systems. Europe must reform and modernise its policies to preserve its values. Modernisation is essential to continue keep Europe’s historically high levels of prosperity, social cohesion, environmental protection and quality of life. Inter alia, there is a need to look closely at making current tax systems perform better across the EU. A more coordinated approach at the EU level and more effective administrative co-operation between Member States could significantly improve the performance of tax systems. This could help to keep economic activity and “mobile” assets (capital, companies) in the EU, while avoiding the risk of concentrating tax on less mobile bases like labour |
