Money Matters - Schleswig-Holstein faces reducing tax revenues.
Schleswig-Holstein's tax outlook keeps getting worse. The current tax evaluation predicts a reduction of 1.1 billion euros in revenues expected between 2024 and 2028 compared to the October forecast, announced Finance Minister Monika Heinold (Greens) on Monday. "This tax evaluation highlights the very tight financial condition in Schleswig-Holstein and the need for an emergency loan and budget consolidation," said Heinold.
This is the third consecutive time a tax assessment has reduced the state's anticipated revenue, she added. "This trend demonstrates the extremely tight financial situation of the entire state and the challenging circumstances."
For the present fiscal year, the anticipated tax revenues are predicted to be about 175 million euros less than the October estimate. The following year is expected to have 284 million euros less tax income, while a reduction of 254 million euros is anticipated in 2026, 194 million euros in 2027, and 198 million euros in 2028. However, the reduction totals 204 million euros in the years 2024-2028, which were previously considered in the state's financial planning for tax law adjustments.
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- In light of these financial challenges, Finance Minister Monika Heinold emphasized the importance of analyzing potential Finances adjustments to balance the reduced Tax revenues in Schleswig-Holstein.
- The tax estimate for Schleswig-Holstein highlighted the need for a comprehensive review of the existing Tax policies, given the anticipated reduction of over 1.1 billion euros in Tax revenues between 2024 and 2028.
- Monika Heinold, the Finance Minister of Schleswig-Holstein, pointed out that the current Tax situation, with estimated reductions in revenues, required a critical evaluation of policies, such as Tax reforms, to compensate for the financial shortfall.
Source: www.stern.de
