Germany’s Finance Minister, Olaf Scholz, has categorically refuted rumors of Germany resorting to taxation measures last used in the aftermath of World War II to bolster the budget.
Speaking during the government’s Open Day event in Berlin, the pro-market Free Democratic Party member stated that reports suggesting the revival of a policy to compel asset-rich property owners and other individuals to contribute 50% of their assets over a 30-year period to a so-called equity fund were “absolutely false news.”
He further asserted that, with support for sound budget management and policies promoting accelerated growth, Germany could avoid such measures for “several years” and bring public debt levels back to pre-crisis levels, approximately 60% of GDP.
According to data from the German central bank, the proportion of Germany’s debt to GDP decreased from 69.3% in 2021 to 66.4% last year.
