German Finance Minister Olaf Scholz has told lawmakers that the government is &q...
FILE PHOTO: German Finance Minister Olaf Scholz speaks during a news conference at the G7 finance ministers and central bank governors meeting in Chantilly, near Paris, France, July 18, 2019. REUTERS/Pascal Rossignol
Chancellor Angela Merkel’s conservatives and their co-ruling center-left Social Democrats are currently negotiating a comprehensive package of climate protection measures that are likely to burden the federal budget massively. During a closed-door meeting of Scholz with budget lawmakers from the ruling parties on Tuesday, there was agreement that additional climate spending would be financed with existing funds and additional revenues, the SPD’s chief budget lawmaker Johannes Kahrs told Reuters.
The budget lawmakers voiced their expectation that the federal government would manage to increase spending without new debt until 2021 when the current legislature ends, Kahrs said, adding that Scholz did not object to that notion.
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