How the proposal to adopt a budget and taxes at the European level adds up

Quadrupling the current EU budget to 4% of GDP would raise about €800bn

€800bn

Money coming in

€300bn

1.5% of GDP

From raising corporate profit taxes across the EU to a unified rate of 37%

€200bn

1%

From levying a progressive tax on high-income individuals: an additional 10% on incomes above €100,000 and an additional 20% on those above €200,000

€220bn

1.1%

From a tax on personal wealth and assets: an additional 1% on estates valued at above €1m and 2% on those above €5m

€80bn

0.4%

From taxing carbon emissions at €30 per tonne

€800bn

Money going out

€200bn

1% of GDP

To spend on innovation and research and development to boost growth and jobs

€80bn

0.4%

To grow green technology with the goal of offsetting climate change

€80bn

0.4%

To a migration fund to help countries cope with their refugee crises

€400bn

2%

Divided proportionately by population and given back to member states to spend as they choose

€40bn

0.2%

To aid agriculture and industry with their transition to a greener economy

€800bn

Money coming in

€800bn

Money going out

€200bn

1% of GDP

€300bn

1.5% of GDP

From raising corporate profit taxes across the EU to a unified rate of 37%

To spend on innovation and research and development to boost growth and jobs

€80bn

0.4%

To grow green technology with the goal of offsetting climate change

€80bn

0.4%

To a migration fund to help countries cope with their refugee crises

€200bn

1%

From levying a progressive tax on high-income individuals: an additional 10% on incomes above €100,000 and an additional 20% on those above €200,000

€400bn

2%

Divided proportionately by population and given back to member states to spend as they choose

€220bn

1.1%

From a tax on personal wealth and assets: an additional 1% on estates valued at above €1m and 2% on those above €5m

€40bn

0.2%

To aid agriculture and industry with their transition to a greener economy

€80bn

0.4%

From taxing carbon emissions at €30 per tonne