Greens propose new levy on ultra-wealthy assets in Bundestag

The Green faction in the Bundestag is set to table a legislative initiative titled “Extremvermögen fairer beteiligen,” aimed at increasing the tax burden on the nation’s largest fortunes. Party officials say the measure would apply to a very limited number of households, amounting to a tiny proportion of all German residents, and would address what they describe as a disproportionate tax advantage for the ultra-wealthy.

They estimate the new levy could raise about €20 billion in additional funds for the state budget. The Greens note that a wealth tax has been dormant since 1997 after a constitutional court ruling, and they argue that any renewed tax must respect the court’s earlier concerns. While the governing coalition opposes a wealth tax, the Greens, together with the Left and SPD, continue to push for its reinstatement in some form.