Public finances Emerging from the crisis with full strength
VAT in Germany will be reduced for a temporary period starting on 1 July 2020. The German Bundestag and Bundesrat have passed the Coronavirus Tax Assistance Act, which implements key parts of Germany’s unprecedented stimulus package. On top of the reduced VAT rate, measures include a bonus for families with children as well as extensive tax relief for single parents, businesses and other …
Public Finances G7: Think Ahead. Act Together.
Finance Ministry brochure about the issues for the G7 finance ministers and central bank governors meeting in Dresden: growth for present and future generations, well-functioning financial markets and enhancing cooperation in tax matters.
Public finances Is German public investment heading for a sustained upswing?
General-government spending is on a buoyant upwards trend – mainly thanks to measures taken by the Federation. Investment spending within the federal budget is up, and Länder and local authorities can boost their investments thanks to financial relief from the Federation.
Public finances Draft 2018 budget and financial plan to 2021
On 28 June 2017 the federal cabinet adopted the government draft for the 2018 federal budget and the financial plan to 2021. No new debt is envisaged for any of the years covered by the financial plan. Federal expenditure in the years up to 2021 is set to rise at a moderate pace, from €329.1bn in 2017 to a projected €356.8bn in 2021. In particular, federal spending in forward-looking, …
Public finances Report on Germany’s public finances sent to EU: Budget surpluses amid a strong upturn
On 18 April 2018, the federal cabinet adopted the German Stability Programme for 2018. Germany will now send the programme to the European Commission and the ECOFIN Council, thereby fulfilling its obligations under EU rules to submit its medium-term fiscal plans to Brussels by the end of April each year. In the Stability Programme, Germany reports on its compliance with the requirements of the …
Public finances German Stability Programme - 2018
The member states of the European Union submit their medium-term fiscal plans to the European Commission and to the Economic and Financial Affairs Council (ECOFIN) by the end of April each year. To this end, in order to comply with the rules of the Stability and Growth Pact, member states of the euro area submit updated Stability Programmes, while all other EU member states submit updated …
The Federal Ministry of Finance has launched an initiative that aims to improve the links between the vast quantity of documents relating to the German government’s Wiedergutmachung (compensation and restitution) for crimes committed by the National Socialist regime and to make these records more accessible to victims, family members and researchers.
Public finances Provisional closure of the 2018 federal budget – well-managed budgets and record investments
On 15 January 2019, the Federal Ministry of Finance presented the provisional closure of the 2018 federal budget. It showed that budgets have been well-managed while investments reached record levels. The provisional data shows that the Federation achieved a structural surplus of roughly 0.15% of gross domestic product (GDP) in 2018, thus meeting the requirements of Germany’s constitutional …
Public finances The German public sector’s in-house consulting agency marks ten years of growth and success
Germany’s publicly owned consulting agency for the public sector celebrated its 10th anniversary on 11 November 2018. PD is the German public sector’s only in-house consulting agency that operates on a nationwide basis and at all levels of government. PD advises the public sector on projects aimed at (a) innovative and sustainable infrastructure and (b) the modernisation of administrative …
Public finances Financial Times interview with Olaf Scholz
In an interview with the Financial Times, German finance minister and vice chancellor Olaf Scholz speaks about current issues. Focusing on the federal budget, he also outlines the prospects for Brexit. He emphasises the importance of a balanced budget without new debt whilst taking account of the need for “social cohesion” and the importance of the welfare state.