Inflation and taxation are increasingly eroding the real value of household savings and long-term investment across Europe. Even when financial markets perform well, many retail investors struggle to preserve purchasing power, as tax systems often levy nominal returns without adequately accounting for inflation, cross-border investment barriers or the long-term nature of savings. As a result, taxation has become a key determinant of investor outcomes, retirement adequacy and confidence in Europe’s capital markets. Recent research highlights the scale of the challenge.…