Handling Money Matters - Senator Dressel offers tax assessment for Hamburg.
The Finance Senator of Hamburg, Andreas Dressel (SPD), is set to reveal the latest tax predictions for the city on Tuesday at 12:30 p.m. This projection is essential for the ongoing conversations about the budget for 2025/2026. Back in the fall, Dressel expressed concerns about "gloomy prospects" that didn't leave much wiggle room for spending desires.
The new Hamburg tax projection will be built on the national tax forecast presented by Finance Minister Christian Lindner (FDP) around mid-month in Berlin. Lindner estimated that the federal government, states, and municipalities will face 21.9 billion euros less in tax revenue next year than they had initially anticipated. Additionally, significant deficits are expected to arise over the next few years up until 2028.
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- Senator Dressel, representing the SPD in Hamburg's Finance department, will disclose their tax estimate for the city on Tuesday, which will significantly contribute to the discussions surrounding the 2025/2026 budget, given his previous warnings about limited financial flexibility due to bleak economic prospects.
- The forthcoming tax assessment in Hamburg is reliant on the national tax forecast launched by Finance Minister Lindner (FDP), who revealed a 21.9 billion euro shortfall in tax income for the federal government, states, and municipalities in the upcoming year.
- Andreas Dressel, the Finance Senator of SPD-led Hamburg, is anticipated to present a tax estimate for the city in light of the reduced tax revenue forecast by Finance Minister Lindner, stressing the necessity for careful financial management to cope with the projected deficits in the upcoming years.
Source: www.stern.de
