Germany cuts tax revenue outlook after Iran war energy shock
Germany has sharply lowered its expected tax revenues for the next five years after its finance minister blamed the war in Iran for a global energy shock.Lars Klingbeil said officials had cut the projected tax take for 2026 to 2030 by around €70bn, saying the downgrade showed how much the conflict was harming the German economy.The announcement comes as Germany's coalition government is already struggling to revive growth after years of stagnation, with high energy costs and weak export demand weighing on activity.It also adds to tensions between Berlin and Washington.Chancellor Friedrich Merz has recently clashed with Donald Trump over... [Continue Reading]
360LiveNews | 07 May 2026 22:02 LONDON
