GERMAN LAWMAKERS DEBATE WHERE BUDGET SURPLUS WILL BE SPENT


15/02/2020




Serhat TUNAR -TDO- (15.02.2020) - In Germany, lawmakers exchanged ideas on how to spend a 2019 budget surplus of 13.5 billion euros.

Announcing preliminary budget implementation figures last Monday, the finance ministry said the surplus was due to low interest rates despite the slowdown in the economy.

Several lawmakers, including Economy Minister Peter Altmaier, are demanding that a regular budget surplus be used to lower taxes.

The opposition parties Die Linke, FDP and AfD are also in favor of lowering taxes.

But its ruling partner, the SPD party, wants the budget surplus to be used for infrastructure investments and to help low-income communities in the country. Finance Minister Olaf Scholz, a member of the SPD, said most of that money would be transferred to the fund created after the refugee crisis in 2015. With this contribution, the size of the fund will reach 48 billion euros.


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