Source: Foundation for Economic Education
by Cláudia Ascensão Nunes
“In 1978, a tiny, dirt-poor Atlantic island of 250,000 souls decided to do the one thing Brussels now treats as heresy … It cut its corporate tax rate to the bone and built Europe’s last genuine special economic zone. And now, 47 years and countless European Union investigations later, that same island shows the opposite of decline: its GDP has quadrupled since 1995; it has narrowed the gap with the European average by more than 20 percentage points; unemployment in recent years has fallen below mainland levels; and its 5% corporate tax regime has been legally renewed until 2033. No oil. No tech miracle. No massive subsidies. Just lower taxes and the freedom to keep the money you earn. This is the story Europe’s central planners don’t want you to hear.” (12/10/25)