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What effect will the additional tax revenue have on the government's debt-reduction obligation?On the results of the tax revenue forecast of May 2011

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  • Christian Breuer

Abstract

The "Tax Revenue Forecast" working group revised its previous forecast for tax revenue upwards at its 138th meeting. Thus the government's fiscal situation will improve both cyclically and structurally. The deficit of the federal government should be clearly lower than current plans foresee. The government will thus stay on its path to comply with the new debt-reduction rule by 2016. There is even some budgetary leeway for the time being.

Suggested Citation

  • Christian Breuer, 2011. "What effect will the additional tax revenue have on the government's debt-reduction obligation?On the results of the tax revenue forecast of May 2011," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(10), pages 22-27, May.
    • Handle: RePEc:ces:ifosdt:v:64:y:2011:i:10:p:22-27
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    1. Projektgruppe Gemeinschaftsdiagnose, 2011. "Joint Economic Forecast Spring 2011: Upswing continues - European Debt Crisis still Unresolved," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(08), pages 03-63, April.
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    1. Christian Breuer, 2011. "Wage developments are driving tax revenues: results of the tax revenue forecast of November 2011," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(21), pages 32-36, November.

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    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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