EU Budget not Built on Consent, According to Klingbeil - EU's Budget Falls Short on Expectations
In a significant development at the ongoing G20 finance ministers' meeting in Durban, South Africa, German Finance Minister Lars Klingbeil has expressed reservations about the EU Commission President Ursula von der Leyen's proposal for the next multiannual EU budget.
Minister Klingbeil, a member of the SPD (Social Democratic Party) in Germany, voiced his concerns over two key aspects of the proposal. Firstly, he criticised the European Commission's proposal for a levy on large companies with an annual turnover of more than 100 million euros, stating that it sends the wrong signal. Secondly, he objected to the EU Commission's plan to transfer 15 percent of revenues from national tobacco taxes to Brussels.
Klingbeil's stance on the EU budget proposal, particularly concerning corporate tax and tobacco tax proposals, remains unclear from the search results. However, his earlier statements at the G20 summit indicate that he believes some taxation plans send the wrong signal.
The German government, under Klingbeil's leadership, is focused on strengthening the country's economy, securing jobs, and attracting investments. In this context, the Finance Minister emphasised the importance of staying within financial limits, a crucial aspect in the EU budget discussions.
In light of these reservations, Klingbeil has not guaranteed the feasibility of the EU budget proposal. He has also made it clear that Germany cannot support the EU Commission's proposal as it currently stands.
The EU Commission's proposal aims to secure a new revenue source for the EU budget, with the corporate levy being one of the key components. The discussions at the G20 finance ministers' meeting in Durban are expected to continue, with the hope of finding a compromise that addresses the concerns raised by Minister Klingbeil and other participating countries.
- Minister Klingbeil's reservations towards the EU Commission's proposal for a corporate levy on large companies and the transfer of tobacco tax revenues to Brussels, as well as his belief that some taxation plans send the wrong signal, raise questions about his stance on the upcoming EU budget.
- The German government, with a focus on strengthening the country's economy, securing jobs, and attracting investments, must adhere to financial limits during EU budget discussions, as emphasized by Finance Minister Klingbeil, which casts doubts on the feasibility of the current EU Commission's proposal, making it clear that Germany cannot support it as it stands.
