From Bloomberg:
German tax revenue in 2008 will fall short of estimates, an independent panel of experts said, highlighting a dispute within the government over the potential for tax cuts while pursuing a balanced budget.
Chancellor Angela Merkel's government, Germany's 16 states and the country's municipalities will take in 554.4 billion euros ($851 billion) this year, the Finance Ministry-led panel said today after meeting for three days in Meissen, near Dresden.
While that's 1.2 billion euros less than the 555.6 billion euros the panel forecast in November, it's not as pessimistic as media reports of a 2 billion-euro shortfall. In the four years through 2011, revenue at all levels of government will be higher than predicted, the panel said....MORE
