Germany, Europe's best student for growth, also wants to be exemplary public finance issue. The government on Wednesday adopted the measures that will save 80 billion euros by 2014. It is for Berlin to meet the debt ceiling set in the marble of the constitution, or the balance of public finances in the medium term. The fiscal effort will be growing and will begin at 11 billion euros in 2011.
Already, thanks to the rebound of the German economy in the second quarter, the deficit was smaller than expected. It represented only 3.5% of gross domestic product (GDP) over the first six months of the year. Compare with the 3% limit set by Brussels, that Berlin could also comply by 2011, according to economists at Deutsche Bank.
In early summer, ads for rigor had caused an outcry in Europe.Partners in Berlin accused of wanting to be more orthodox than necessary. They feared that the rigorous German kills the European recovery. To observe the growth of 2.2% in the second quarter, driven by demand, moreover, that fear was unfounded. On the contrary, repeated Finance Minister Wolfgang Schäuble "in Germany, one of the biggest obstacles to economic growth is the increasing uncertainty of the people on deficits."
The main measures adopted by Berlin.
• Lower social benefits: 3.16 billion euros in 2011 payday loan no teletrak. The long-term unemployed will have their aid for heating and reduce their pension insurance. The parental salary will be cut down.
• Tax Funding: € 2 billion per year. Berlin has decided to levy a tax on financial transactions.This measure will be applied, however, that if Germany succeeded in convincing its European partners to implement it.
• tax on airline tickets: 1 billion euros per year. The flights from Germany will be taxed at 45 euros per ticket for the long haul and 8 euros for short trips. The new tax is debatable. The Association of German airlines BDF considered that the proposed tax would lose five million passengers per year in Germany.
• Tax ecological: 1.5 billion euros per year. Exceptions allowing companies to avoid taxes will be phased ecological.
• Cuts in Defense Budget: 4 billion euros in 2013-2014. military spending will be reduced through a probable downsizing, or even elimination of military service.
• Tax nuclear 2.5 billion euros per year. This has caused an outcry in the energy sector. The government has also not adopted on Wednesday. This new tax will be a separate text and will be discussed at the end of the month.