Thuringia’s tax revenues are developing better this year than expected in spring as a result of the corona pandemic. According to the November tax estimate, they are 263 million euros higher than estimated in the supplementary budget for this year, the German press agency learned from government circles. Finance Minister Heike Taubert (SPD) has already made it clear that she sees an opportunity to reduce new debt this year.
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The Treasury Department did not want to comment on the number. Taubert will present the results of the November tax estimate for the years 2020 to 2025 for the state and municipalities next Tuesday, said a spokesman.
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The Thuringian supplementary budget, which is still to be decided by the state parliament, has so far provided for loans of more than 1.8 billion euros. According to the more favorable tax forecast, this amount could decrease to less than 1.6 billion euros if the state parliament approves it. The more favorable development of tax revenues reduce the allowable borrowing, it said.
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After submitting the November tax estimate for the federal, state and local governments on Thursday, Taubert had already dampened expectations that additional money would now be distributed in Thuringia. “If the income in the current year is better than previously expected, this reduces the amount of necessary borrowing. This does not create any new leeway,” the finance minister declared.
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In response to the economic downturn caused by the 2020 corona pandemic, Thuringia has to take out loans to cover state spending for the first time in many years.
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