After a long struggle and a two-month delay, the Bundestag in Berlin has approved a federal budget for 2024. This includes expenditure of 476.8 billion euros – and initially new loans of around 39 billion euros. The withdrawal of tax credit for agricultural diesel, which had been protested by farmers across the country, is also part of the budget bill.
The Federal Council is also expected to give the green light to the budget later today. The 2024 federal budget presented the traffic light coalition with a special challenge. After the ruling of the Federal Constitutional Court, billions of dollars suddenly had to be plugged into the core budget and into the climate and transformation fund shortly before the end of the year.
The SPD, Greens and FDP have agreed on a savings program that includes a higher ticket tax for passenger flights and the phasing out of agricultural diesel tax breaks for farmers. These measures will be implemented in a separate law – which, however, still needs to be approved by the Federal Council.
Will the debt brake be met for the first time?
If this remains the case, the debt brake would be met for the first time since the outbreak of the corona pandemic, because the arrangement in the Basic Law offers a certain leeway in the event of poor economic expectations.
Source: Krone
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