Finance Minister Christian Lindner has rejected talk that Germany plans to resort to tax measures last used after World War II to consolidate the budget.
Speaking at the government’s open day in Berlin, the pro-market Free Democrat said suggestions of reviving a policy which forced property owners and others with substantial assets to pay a levy of 50% on their assets into a so-called equalization fund over 30 years, was “absolutely fake news.”
Germany can reach its pre-crisis level of public debt of about 60% of gross domestic product “in a few years” without such measures, he added, on the back of good budgetary management and policies to promote faster growth. The episode highlights the challenges facing a government coalition that’s losing public support, while the AfD, which considers the euro a failed currency and wants to dismantle the European Union in its current form, has become the second most popular party in Germany.
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