Germany to increase spending as tax income rises

10th November 2006, Comments 0 comments

10 November 2006, Berlin (dpa) - The budget committee of the German parliament (Bundestag) late Thursday agreed on a draft federal budget for 2007. Total spending is expected to rise to 270.5 billion euros (345.7 billion dollars). An expected increase in tax takes in 2007 sees the amount set aside for new debt fall to 19.58 billion euros, its lowest level since German reunification in 1990, while investment is set to grow by 414 million euros to 24 billion euros.Parliament is expected to adopt the budget i

10 November 2006

Berlin (dpa) - The budget committee of the German parliament (Bundestag) late Thursday agreed on a draft federal budget for 2007.

Total spending is expected to rise to 270.5 billion euros (345.7 billion dollars).

An expected increase in tax takes in 2007 sees the amount set aside for new debt fall to 19.58 billion euros, its lowest level since German reunification in 1990, while investment is set to grow by 414 million euros to 24 billion euros.

Parliament is expected to adopt the budget in a vote on November 24.

DPA

Subject: German news

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