The German Federal Minister for Economic Cooperation and Development, Reem Alabali Radovan, faces the significant challenge of finding one billion euros in savings within her budget for economic cooperation and development in the coming years. This budgetary constraint is prompting her to advocate for the introduction of a wealth tax targeting high-net-worth individuals.
Responding to inquiries from Politico magazine, Minister Radovan affirmed her continued support for such a tax, stating the need to place greater responsibility on accumulated wealth. She emphasized the necessity of exploring alternative funding mechanisms to supplement existing public resources.
The Minister indicated that securing this shift will require navigating differing opinions within the governing coalition. She acknowledged the potential for debate and emphasized the need for collaborative efforts to identify new revenue streams to sustain the level of developmental aid deemed essential.
Prior to achieving broader agreement within the coalition, Minister Radovan is actively seeking efficiency improvements and potential cost-saving measures within the ministry itself, a process she described as particularly demanding given the scope of the required reductions.
