On November 7, 2022, the new event format “HWWI Economic Policy Forum” took place for the first time. The aim of this series of events is to create a platform for exchange on important economic policy issues between academics, politicians, association representatives, entrepreneurs and the interested public. With the kind support of Hamburger Sparkasse, this event format will take place twice in the spring and twice in the fall.
The series of events was opened with a lecture by Prof. Dr. Marcel Thum, Chairman of the Scientific Advisory Board at the Federal Ministry of Finance and Managing Director of the Dresden branch of the ifo Institute, on the subject of “Excess Profit Tax – An Economic Assessment”.
As a result of his analysis, Prof. Thum clearly advised against the introduction of an excess profits tax. Based on a report by the Scientific Advisory Board, he showed that excess profits are difficult to determine. In addition, retrospective taxation of such excess profits would lead to a reduced willingness to innovate. “A promise by the state to only apply such excess profit taxation once during the current crisis would hardly be credible,” emphasized Thum. The presentation led to a lively discussion with the audience.