Germany’s Lindner: Oppose taxing 'excessive' profits

German Finance Minister Christian Lindner said in an interview with ZDF over the weekend, "To me, much and possibly everything speaks against a possible excessive profit tax when I think about it closely.”

"It would mean that we would offer up our tax system to arbitrariness," he said.

Additional quotes

"We don't want to - and must make sure that the state does not - benefit financially from this solidarity levy.”

“Will stick to what he saw as tight fiscal spending as far as possible in order not to fan inflation any further.”

Meanwhile, Reuters reported that “Lindner referred to his initiative at the European Union level published on Sunday to try and waive the value-added tax on a new gas levy, which Germany will announce on Monday, to spread the additional energy costs out more evenly.”

Market reaction

The shared currency is little impacted by the above comments, as EUR/USD is trading almost unchanged on the day at 1.0260 so far.