We must adopt a common consolidated corporate tax base! This is long overdue. It would reveal the actual level of taxation of companies, enabling governments to identify potential tax fraud and effectively tackle aggressive corporate tax planning.

We must have progressive income tax! The OECD has recognised that tackling inequality through tax and transfer policies does not harm growth. So ensuring the progressivity of income taxation in the EU, with stronger wealth taxation and consistent inheritance taxation, would help ensure all citizens contribute according to their capacities.

We must have progressive tax on transactions! Progressive real estate taxation, taxation on bonuses, dividends and stock options can also generate additional fiscal revenue, while reducing inequalities.

We must have harmonized minimum taxation levels! The EU and its member states could work towards the convergence of corporate taxation rates to prevent further fiscal competition, with an agreement on harmonised minimum taxation levels. Such corporate taxation should be progressive enough not to over-burden small and medium enterprises and should take into account the need for economic, social and territorial convergence.

We must eradicate sweetheart tax deals! Bilateral company-to-country specific fiscal agreements unfairly lower the effective tax rate of the company. Eliminating these ‘sweetheart deal’ tax rates would be a way to ensure both transparency and efficiency in taxation of multinationals. It would limit aggressive tax planning, as well as tax competition between member states.

We must tax environmental harm! Ambitious environmental taxation on energy, linked to CO2 emissions, can increase public revenues while address environmental challenges at the same time. Taxation on environmental impact is also a relevant tool to use as new source of revenues supporting a shift to a more sustainable economic model.

We must create fiscal incentives! The use of fiscal incentives can support specific policies, for example tackling youth employment or energy consumption. Special attention should be paid for such incentives not to create distortions between different kinds of benefiters, notably between multinational corporations and SMEs.

We must swiftly implement the FTT! The Financial Transaction Tax should be swiftly implemented and extended to all EU member states, as a way to increase public revenue.

We must have transparent financial reporting! A compulsory and transparent country-by- country reporting by multinational companies in all sectors would help reflect the level of taxation companies actually pay.

We must make keep track of our tax policies! To better reflect the reality of tax fraud, tax evasion and tax avoidance, an EU inventory of income, wealth and tax regimes could be put in place. Such inventory would reflect the difference between the legal and the actual tax rates on companies and individuals.

We must force companies to share financial information! The adoption of EU rules on mandatory exchange of personal and corporate financial information that cover all types of income, including dividends, capital gains, other financial income and account balances would allow greater transparency.

We must make companies pay where they earn! The country of profit for a company must be the country of taxation. Transfer pricing regulations that prevent transnational companies to artificially reduce the amount of tax they pay can ensure a more efficient tax system.

We must create a tax evasion blacklist! The creation of a convincing definition and black list of tax havens, associated with sanctions, would strongly reinforce the fight against tax evasion.

We must prevent tax dodging! At both national and European level, financial regulation and supervision that ensure transparency and prevent tax dodging could be adopted together with stricter sanctions on tax evasion and tax fraud. Similar regulation increasing transparency, supervision and reducing risks within the shadow banking sector could further complement financial regulation and prevent a transfer of activities from the regulated banking sector to shadow banking.

We must take banking out of the shadows! Reducing interlinkages between the shadow and the regulated banking sector, specifically by limiting exposure of banks to alternative investment funds, would reduce the risk of contagion and con- tribute to deleveraging of shadow banks.

We must have adequate capital requirements! Such requirements ought to be implemented throughout the financial sector as an effective regulatory tool to internalize risk and reduce modelling risks exposure. This would increase financial stability.

We must eliminate the debt-equity bias! The tax deductibility of interest payments in most corporate income tax systems coupled with no such measure for equity financing creates economic distortions and exacerbates leverage. It should be eliminated to enhance economic resilience.

We must address the sovereign bank loop! The sovereign-bank-loop must be addressed effectively, not least by completing Banking Union and by means of strengthening large exposure limits.

We must make the financial sector more socially responsible! The financial sector could be made more socially responsible by limiting information asymmetry and conflict of interest, as well as by enhancing consumer protection. Innovative financing mechanisms such as crowdfunding and peer-to-peer lending should be promoted within a sound regulatory framework. Criteria on human, social and environmental sustainability, reflecting the concerns of a broad set of stakeholders, need to be much better integrated in rating reports, risk analyses and assessments of investment products.

We must self-reflect! Introducing a culture of permanent independent evaluation of public policies, in terms of both economic and social outputs, could help reinforce and improve the design and implementation of future reforms and ensure greater democratic accountability.

We must modernize public services! We need to digitalise public services and create one-stop-shops. This would usher in more transparency and efficiency, contain administration costs and benefit both citizens and economic actors. However, such modernisation should not hamper the quality of services provided, nor reduce their scope.

We must simplify procedures! The smart organisation of public services in an integrated way can contribute to better answering the needs of citizens and economic actors.

We must let citizens participate in decision-making! Citizens’ participation in decision-making and spending choices can strongly improve citizens’ understanding and acceptance of public decisions.

We must reduce duplication! Reducing duplicated administrative structures and burdens and streamlining bureaucratic processes can facilitate the interaction between the state, citizens and private companies. It should nevertheless never undermine existing rights, in particular social rights.

We must simplify legislation! Simplifying legislation and making the speed and efficiency of the justice system, to guarantee both the protection of citizens’ rights and a safe economic environment, can contribute to improved economic governance and public trust.

We must make public institutions cooperate! The cooperation among public institutions, particularly through sharing resources and knowledge, can strongly contribute to the efficiency of the public sector. To facilitate this cooperation it is important to develop experiences of shared services and extend them to new areas.

We must fight corruption! Fighting against all kinds of corruption, with the development of effective preventive policies and adequate control mechanisms to manage corruption risks, are essential to re-establish people’s trust and ownership of democracy, and to ensure the credibility of public action.