This morning in Germany, there is chatter by various networks going on....revolving around the tax revenue issues since Corona came along.
What the government finance people say is that tax revenue is down by roughly 20-percent for the year.....at the pace things are going right now.
It's not just sales tax revenue....it includes wage tax revenue as well.
Added onto this....with vacation travel down....there's all this revenue that would have been generated, with taxes....on air travel. Presently the talk is that air travel in Germany is existing with around 3-percent of what would be considered normal.
Implications for 2021? Well....it would normally be a election year, and parties would chat a lot about 'gifts' to the public. There's simply no extra money around to play normal politics.
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