German Chancellor Merz signals resistance to EU taxation plans

Chancellor of Germany Friedrich Merz flashed warning signs on Thursday, warning European Union (EU) plans to shore up budgets using new or increased corporate taxation schemes will likely meet resistance from the German contingent.

Key highlights

(The EU) needs to discuss the size of the future budget.

The EU has to make do with the money it has.

It is unacceptable to finance the EU budget through EU-wide corporate tax.