Germany's co-governing Social Democrats (SPD) want to introduce a wealth ta...
BERLIN - Germany’s co-governing Social Democrats want to introduce a wealth tax for multimillionaires and billionaires and use the extra revenues to boost public investment in infrastructure, one of its interim leaders said on Monday.
For billionaires, a tax rate of up to 1.5% could apply, Schaefer-Guembel said, adding that a more detailed proposal would be discussed at the SPD party congress in December. The SPD plans forecast annual revenues of up to 10 billion euros and are meant to sharpen the SPD’s profile by returning its focus to issues such as social justice and redistribution, Schaefer-Guembel said.
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