Scholz Coalition Still Seeking Deal on Revised 2024 Budget
- Overnight talks fail to produce agreement on new finance plan
- Government under pressure to end unprecedented budget crisis
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Chancellor Olaf Scholz and his partners in Germany’s ruling coalition are continuing “very intensive” negotiations Wednesday as they try to seal an agreement on a revised 2024 budget, according to a government spokesman.
Scholz and senior coalition officials have been forced to overhaul their finances due to last month’s judgment by Germany’s top court that restricted the use of special funds outside the regular federal budget. Finance Minister Christian Lindner identified a gap of €17 billion ($18.3 billion) for next year that needs to be plugged with measures like spending cuts and reductions in subsidies.