Jan 13, 2:44 AM EST

German finance minister resists pressure for quick tax cuts

Latest News
Head of Poland's ruling party to reprimand Germany's Merkel

Germany releases timeline on Christmas market truck attacker

Berlin lawmaker with Stasi secret police past resigns job

German woman admits luring slain Chinese student to building

Germany: Merkel ally regrets manner of critic's departure

Exhibit Honors Soviet Photographer
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Bank of England Governor: Bank will protect economic growth

IMF boosts growth forecast for US, cites Trump impact

More pay, greater confidence lifts US retail sales 0.6 pct.

German finance minister resists pressure for quick tax cuts

Bank of Korea cuts growth outlook as scandal hits economy

Mexico president tries again to calm anger over gas hike

ECB extended stimulus as 'steady hand' in turbulent year

Erdogan says Turkish economy also under 'terror' attack

Puerto Ricans to see lower power bills amid economic crisis

World Bank forecasting brighter prospects for 2017

Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt
Berlin Wall: 20 Years Later

BERLIN (AP) -- Germany's finance minister is resisting pressure for quick tax cuts and extra spending after the country posted another budget surplus.

Wolfgang Schaeuble plans to use the federal government's 6.2 billion-euro ($6.6 billion) surplus to pay off debt. The conservative Christian Democrats of Schaeuble and Chancellor Angela Merkel have long made getting Germany's finances in order a key policy plank, though they're raising the prospect of tax cuts after this year's election.

The rival center-left Social Democrats and Merkel's Bavarian conservative allies would like to see action sooner. But Schaeuble told Friday's edition of the daily Bild that the next government should undertake a "comprehensive reform" of income and business tax.

He added: "You cannot finance permanent tax cuts from the surplus at the end of one year. That isn't serious."

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.