Redeeming – zero debts in the 2015 federal budget
Federal Minister of Finance Wolfgang Schäuble’s plan: From 2015 Germany will incur no more debts
As a rule, zeroes are not particularly popular. Yet Federal Minister of Finance Wolfgang Schäuble is extremely satisfied with this one: The Grand Coalition of the Conservative CDU/CSU and Social Democrat SPD parties has set the course for the first balanced budget for more than 40 years. The plan envisages no new debts for 2015. This is made possible by record tax revenue, due primarily to the high employment level, and low interest rates. In the coming year the Federal Government intends to spend almost 300 billion euros, three billion more than in 2014. By putting a brake on debts the Federal Government is indicating that the budget consolidation is making progress and that the zero-debt policy is not an end in itself, but stands for reliability.
