After months of strong growth, a higher revenue record than previously expected is on the horizon for the year as a whole.
The treasury is benefiting from wage increases and continued good employment, as well as from the good economy and higher corporate profits. Stronger private consumption also has an impact. However, the finance ministry warns of a significant economic slowdown at the end of this year as a result of the euro crisis.
Between january and september, revenue excluding pure municipal taxes rose by 5.6 percent – to a current total of 403.4 billion euros. Over the year as a whole, tax estimators had last expected an increase of 4.0 percent. The nine-month plus is thus high. The next forecast will be issued at the end of october.
Experts now estimate that the federal government, states and municipalities could collect just over 600 billion euros for the first time this year. The "tax estimation" working group was again allowed to revise its forecast upward. The tax experts from the federal government, lander, municipalities, bundesbank, research institutes and the statistics office meet from 29. Until 31. October in frankfurt am main.
According to the finance ministry, the german economy will lose considerable momentum in the last three months of the year. In the third quarter up to the end of september, economic output may have increased once again, but this is not the case. "In the final quarter of 2012, however, germany’s economy was allowed to slow down significantly," the monthly report states.
The ministry referred to the government’s recently presented autumn forecast, according to which only "moderate overall economic activity" is expected in the upcoming winter half year. In the course of the coming year, however, the german economy was gradually allowed to gain momentum again. The federal government now expects growth of 0.8 percent for the current year and 1.0 percent for 2013.
In the view of priska hinz, budget policy spokeswoman for the greens in the bundestag, there is no reason for the federal government to take on 32.1 billion euros in new debt this year, given the increase in tax revenues. Black and yellow must use the additional revenue to reduce debt and tackle structural reforms: "the federal government must not rely on the high tax revenues falling into its lap for the long term."
The left’s tax expert, barbara holl, expressed a similar view. The tax increase is no resting place. The federal government should also push for the reintroduction of the wealth tax, a fairer inheritance tax and a change in income tax rates. The association of family businesses warned that expensive spending programs such as childcare allowance or the expansion of pension entitlements would make the solution to the debt crisis a distant prospect.