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Germany Today

German news in English

Saturday, January 18, 2025

Habeck Proposes Billionaire Tax

Published: 2024-12-15

German Green Party candidate Robert Habeck has proposed a new billionaire tax to fund public projects.

He estimates that taxing a small portion of the wealth of Germany's 249 billionaires could generate €5-6 billion.

Habeck suggests using this revenue to improve schools, including infrastructure, equipment, and staffing.

Additionally, he advocates for a €1,000 state subsidy for apprentices' driving licenses, with employers contributing €500. Other proposals include increasing the income tax deduction for work-related expenses and having the state finance power grid expansion instead of consumers.

With elections approaching in February, Habeck positions himself as a candidate for the people, though he acknowledges his underdog status.