"The European Union faces the twin crises of Covid-19 and climate change. Confronting both crises requires an unprecedented volume of public resources. The question of how to raise these funds without jeopardising a weak COVID recovery while doing so in a fair way without undermining broad political support for climate action, poses a major political and economic challenge.

Jakob Kapeller, Stuart Leitch and Rafael Wildauer investigate the potential of a European net wealth tax to raise substantial revenues while supporting the economy and the consensus on climate action. To achieve this, household survey data from the European Central Bank (covering 22 EU countries) are analysed."

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