Treasury declines
Greens call for extra tax on war profits
May 2, 2022, 7:55 p.m
There are corporations that are making more profits than usual as a result of the war. The Greens insist on introducing an excess profit tax for these companies. The FDP-led Ministry of Finance rejects the proposal.
The Greens want to tackle higher corporate profits that are caused by wars and crises. Referring to the Russian attack on Ukraine, party leader Ricarda Lang said after a meeting of the party executive in Berlin: “If it’s obvious that some corporations are knowingly and above all making excessive profits from the horror of this war, then we should introduce an excess profit tax , which actively counteracts exactly that.” This tax would ensure “that those who participate financially, that we all get through this crisis well and above all with a stronger cohesion”.
When asked whether this proposal could be implemented in the federal government with the coalition partners FDP and SPD, Lang replied: “We are experiencing a turning point, which means that there shouldn’t be any bans on thinking in this turning point.” The Greens had already put forward the idea of an “excess profit tax” last year – at that time with a view to companies that were able to make big profits as a result of the corona pandemic.
The Parliamentary State Secretary in the Federal Ministry of Finance, Katja Hessel, rejected the proposal. “Our companies have already been hit several times: by the aftermath of the corona pandemic, high energy prices and collapsed supply chains,” said the FDP politician. “Instead of fueling uncertainty with debates about tax increases, we need to set the framework for new growth.”
Regarding the state elections in Schleswig-Holstein next Sunday, the co-chairman said that the state only had a “top position” in renewable energies because of the Greens’ participation in the government in Kiel. If the Greens are not involved in the next state government, it would be a “huge step backwards for climate protection”.