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Saxony is threatened with a budget downturn: Finance Minister warns of cuts!
Finance Minister Vorjohann is planning cuts, while the Greens and the Left criticize the debt brake and false savings.
Saxony is threatened with a budget downturn: Finance Minister warns of cuts!
A severe storm is brewing over Saxony! On October 24th, when the explosive tax estimate was published by the Federal Ministry of Finance, shocking news came to light: In the coming year, the federal government is expecting 700 million euros more, while there is a risk of a huge decline of 58 billion euros in tax revenue by 2028. And that gives Saxony's Finance Minister Hartmut Vorjohann (CDU) cause for concern - he must not only recognize the impending cuts, but also implement them!
“Saxony’s tax revenues will fall below the budget estimate by 350 million euros this year,” explained Vorjohann, painting a gloomy picture for the state’s financial situation. A foreseeable deficit that puts pressure on the government while the coalition partners negotiate a possible “blackberry coalition”. Money to spend? None! In 2025, tax revenues of just 19.5 billion euros could be expected - a further minus of 150 million euros compared to the previous estimate! The economic situation is obviously precarious.
The reactions of the opposition
It didn't take long for the opposition to react! The Greens and the Left spoke out and criticized the CDU's failures: "The Saxon debt brake only increases the problems," complained Franziska Schubert from the Greens and spoke of a standstill that stands in the way of ongoing investments and innovations. Left-wing parliamentary group leader Susanne Schaper also loudly called for a discussion about the revenue side - in particular, the long-standing demand for a wealth tax must finally be taken seriously!
“The CDU has pushed Saxony down an economically dangerous path with a restrictive debt brake,” Schubert accused the state government. "The priorities are set incorrectly. While necessary investments in education and infrastructure fall by the wayside, austerity measures continue to be made." The signs point to a storm in Saxony's politics, as Vorjohann faces the challenges that the coming budget years will bring with them.