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10/08/2025October 8, 2025
Finance minister promises ‘marathon of reforms’
German Finance Minister Lars Klingbeil has promised a “marathon of reforms” as the government looks to plug a hole of over €30 billion ($34.6 billion) in federal finances.
“I believe our citizens know that there have to be changes; they can handle straight language and understand that we can’t plug that gap without cuts,” said Klingbeil, the most senior Social Democrat (SPD) in the conservative-led coalition government.
“But, as a Social Democrat, I also say: These reforms have to be fair,” Klingbeil said. “If the impression emerges that only one section of society is doing its part, we will lose trust.”
Klingbeil said the SPD would support cuts to welfare and unemployment benefits and also push for higher taxes on high earners in a “mutual…
