Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Germany’s Seehofer Rejects Tax Increases, Sueddeutsche Says

May 31 (Bloomberg) -- Bavarian Prime Minister Horst Seehofer said his Christian Social Union, one of three parties in Chancellor Angela Merkel’s coalition, will block any attempt to raise taxes to rein in Germany’s budget deficit, the Sueddeutsche Zeitung newspaper reported.

The CSU, which is the Bavarian sister party to Merkel’s Christian Democrats, rejects proposals calling for an increase of the discounted value-added tax rate on items such as food, Seehofer told the newspaper. The party also opposes raising the VAT rate and suggestions to lift the income tax rate to help cut spending by around 10 billion euros ($12.3 billion) per year, he said, according to the newspaper.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.