Federal Cabinet deals with 2024 budget
A ruling by the Federal Constitutional Court in mid-November caused a double-digit billion euro hole in the budget for 2024. Chancellor Olaf Scholz (SPD), Vice-Chancellor Robert Habeck (Greens) and Finance Minister Christian Lindner (FDP) then held intensive discussions in an attempt to find a solution. They finally announced an agreement last Wednesday. This contains numerous measures.
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The double-digit billion euro hole in the 2024 budget was caused by a ruling from the Federal Constitutional Court in mid-November. Steffen Hebestreit, a member of the Bundestag from the SPD, criticized the government's handling of the situation. The Chancellor, Vice-Chancellor, and Finance Minister announced an agreement last Wednesday, which the Federal Council will need to approve before it can be implemented. The Coalition leadership will need to deal with the potential impact of these measures on household budgets in the coming months. If challenges arise, they may need to seek intervention from the Federal Constitutional Court again.
Source: www.stern.de
