German Finance Minister Pledges Tax Relief of $34.1 Billion From 2023

The German Finance minister, Christian Lindner, says the newly formed German government will be offering tax reliefs to individuals and companies worth 30 billion euros ($34.1 billion) in this legislative period.

We will relieve people and small and medium-sized businesses by significantly more than 30 billion euros,” said the Finance Minister.

Lindner makes it clear that the 2022 budget was put together by the previous government under the leadership of Chancellor Angela Merkel further adding that his draft proposal for 2023 will include the promised tax relief.

The finance minister says the tax relief will come as relief on various issues including pension insurance contributions and also electricity prices. This will undoubtedly bring an end to the rapid increase of electricity charges in the country.

Linder says that he has also reached out to his fellow cabinet members asking them to review the spending projects in their respective ministries.

We have to go back to sound public finances. We have a responsibility towards the younger generation,” added the finance minister.

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