Latest Olaf Scholz News

German government sees higher tax take as economy grows

May. 9, 2018 9:38 AM EDT

BERLIN (AP) — The German government says solid economic growth and low unemployment are expected to boost its tax take over the next few years. A twice-yearly assessment released by the finance ministry Wednesday forecast tax income of 772.1 billion euros ($917.7 billion) this year, 7.8 billion euros more...

EU wants big budget to fund new priorities after Brexit

May. 2, 2018 11:53 AM EDT

BRUSSELS (AP) — The European Union on Wednesday launched the long and politically fraught process of drawing up its new long-term spending plans, seeking a bigger budget to finance new priorities like defense and border control and plug the gap left by Britain's departure. The bloc's executive, the...

The Latest: Austrian leader: EU budget not acceptable

May. 2, 2018 11:24 AM EDT

BRUSSELS (AP) — The latest on Wednesday's European Union budget proposals (all times local): 5:20 p.m. Austrian Chancellor Sebastian Kurz says while there are positive elements to the proposed European Union budget, it's not acceptable in its current form. Kurz told reporters Wednesday that "for us an...

Germany budget plan foresees no new debt through 2022

May. 2, 2018 8:40 AM EDT

BERLIN (AP) — The German Cabinet has approved a budget for 2018 and a longer-term outlook through 2022 that foresees no new debt. Germany has had a budget surplus since 2014 and Finance Minister Olaf Scholz said Wednesday that higher revenues mean the government can keep its promises to increase spending...

Troubled German Social Democrats elect combative new leader

Apr. 22, 2018 9:01 AM EDT

BERLIN (AP) — Germany's center-left Social Democrats on Sunday elected a combative new leader to spearhead their recovery from a disastrous election result while guiding them through a fractious coalition government with Chancellor Angela Merkel's conservatives. Andrea Nahles, who heads the party's...

The Latest: Global leaders fear rising trade tensions

Apr. 20, 2018 2:20 PM EDT

WASHINGTON (AP) — The latest from the spring meetings of the Group of 20 major economies, the 189-nation International Monetary Fund and its sister lending institution, the World Bank. (All times local) 2 p.m. Global finance ministers see rising trade tensions between the United States and China as a major...

A willingness to fix the euro's flaws is fading fast

Apr. 19, 2018 2:31 PM EDT

FRANKFURT, Germany (AP) — When Angela Merkel was re-elected as Germany's leader in March, the way looked open for European nations to finally patch the remaining cracks in the euro — the structural flaws that threatened to break apart the shared currency in 2010-12. Suddenly, those prospects for...