Tax & Spend
Germany’s Battered Coalition Heads for Next Budget Disaster
- Setting up 2025 budget will be even more tricky than this year
- Government must plug €20 billion gap to comply with debt limit
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Germany’s parliament passed a hard-fought budget for 2024 on Friday, but that will probably offer little respite in what has become a protracted national argument about money.
The bill settles the most pressing dispute sparked by a legal ruling in mid-November on government borrowing. While that’s been the toughest test so far for Chancellor Olaf Scholz’s coalition, an even more daunting battle looms for next year’s budget.