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Finance Minister Rules Out Tax Rises

GERMANY

Wires carrying comments from German Finance Minister Christian Lindner. States that, "inflation is the most serious threat to the economy, while a recession is serious but manageable."

  • Says that 'fighting inflation is a top priority for out gov't...fiscal sustainability is also a priority in order to maintain capital market creditability'. However, then adds that 'there will not be any tax rises'.
  • Lindner hails from the pro-business liberal Free Democrats (FDP), the smallest party in the governing coalition. Notable divisions between the left-leaning Social Democrats and Greens on one side and the FDP on the other with regard to tax and spend. FDP much more inclined to support spending cuts over tax hikes.
  • Fin min's comments come shortly after Reuters publishes story saying a 33% windfall tax on O&G firms' profits is set to be implemented.
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