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German Coalition Favors Budget Savings Over Tax Cuts, Bild Says

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May 23 (Bloomberg) -- Germany’s ruling coalition favors pressing ahead with tackling the budget deficit as tax revenue grows rather than cutting taxes, the Bild Zeitung reports, citing party chiefs.

Finance Minister Wolfgang Schaeuble, a Christian Democrat, and Philipp Roesler, the new chairman of the Free Democrats, agreed in talks this month not to lower taxes unless the pace of economic growth is maintained, the newspaper said.

To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.net

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