🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Germany's Lindner plans 20 billion eur in tax relief to boost economy, Spiegel reports

Published 04/12/2024, 06:02 AM
Updated 04/12/2024, 07:31 AM
© Reuters. FILE PHOTO: Germany's Minister of Finance Christian Lindner speaks during a press conference during the G20 Finance Ministers and Central Banks Governors' meeting, in Sao Paulo, Brazil, February 29, 2024. REUTERS/Carla Carniel/File Photo

By Maria Martinez

BERLIN (Reuters) - German Finance Minister Christian Lindner is planning tax relief of more than 20 billion euros ($21.33 billion) to help boost the economy, German magazine Spiegel reported on Friday.

"The reporting is purely speculative," a spokesperson for the finance ministry told Reuters.

It is known that the Finance Ministry is working on measures to boost economic growth and Lindner has spoken about it before, the spokesperson said, adding that further details on the package couldn't be provided.

Some 13 billion euros will be freed up by reducing the solidarity tax, introduced after reunification to support poorer states in eastern Germany, according to the Spiegel report.

© Reuters. FILE PHOTO: Germany's Minister of Finance Christian Lindner speaks during a press conference during the G20 Finance Ministers and Central Banks Governors' meeting, in Sao Paulo, Brazil, February 29, 2024. REUTERS/Carla Carniel/File Photo

Lindner also plans to allow immediate write-offs for climate protection investments, which is also set to free up billions of euros, reported Spiegel.

($1 = 0.9377 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.