State must expect less tax revenue in 2024
Tax expectations in Schleswig-Holstein continue to decline. The latest tax estimate for the period 2023 to 2027 predicts 210 million euros less than forecast in May, said Finance Minister Monika Heinold (Greens) on Tuesday after a cabinet meeting. There is a gaping hole of 494 million euros in the plans for the 2024 budget - despite a possible increase in new debt of a further 120 million euros due to economic developments.
"It is becoming increasingly difficult to balance income and expenditure; we now have to turn over every euro not twice but three times before we spend it," said Heinold. Nevertheless, she expressed confidence that a constitutional budget would be presented by mid-December.
The finances in Schleswig-Holstein are facing challenges, as the state needs to find ways to make up for a predicted shortfall of 494 million euros in the 2024 budget due to reduced tax revenue. To address this issue, the state may need to reconsider its tax policies and find new sources of revenue.
Source: www.dpa.com
