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European side of the euro coins until 2006

The varying degrees of “net” – an international comparison of the tax wedge on labour

19.06.2024

The tax wedge on labour – i.e. the burden of taxes and social security contributions on labour income – is a frequently discussed topic. An article from the Bundesbank’s current Monthly Report examines the tax wedge on labour in greater detail. It looks, in particular, at the difference between pension contributions and tax payments. “A nuanced analysis of tax wedge ratios makes an important contribution to enabling better interpretation of tax wedges,” the authors of the article write. 

The varying degrees of “net” – an international comparison of the tax wedge on labour
Tax documents ©Adobe Stock / Iftikhar alam
Bundesbank symposium: digitalisation and Single Supervisory Mechanism in the spotlight

13.06.2024

The Bundesbank’s “Banking supervision in dialogue” symposium ranks among the key forums for banking and financial supervisory topics in Germany. This year’s event in Frankfurt am Main centred around ten years of the SSM, artificial intelligence, and crypto-assets regulation. Speakers included Bundesbank Executive Board member Burkhard Balz, FINMA CEO Stefan Walter, SSM Chair Claudia Buch (European Central Bank) and Karlheinz Walch (Director General Banking and Financial Supervision, Deutsche Bundesbank).

Bundesbank symposium: digitalisation and Single Supervisory Mechanism in the spotlight
Burkhard Balz during his video message at the Bundesbank Banking Symposium 2024 ©Nils Thies
Nagel: “Germany is facing major longer-term challenges”

11.06.2024

Bundesbank President Joachim Nagel says the German economy is facing major longer-term challenges. The first two challenges ... are the need to decarbonise the economy and the ageing of our society, he argued at a change of office ceremony at the Bundesbank’s Regional Office in Saxony and Thuringia. He hailed last week’s rates cut by the ECB Governing Council as the right decision but advised caution, noting that future economic and price developments were still fraught with uncertainty.

Nagel: “Germany is facing major longer-term challenges”
Joachim Nagel at a change of office ceremony in Leipzig ©Christian Schneider-Broecker
Bundesbank Forecast for Germany: German economy slowly regaining its footing

07.06.2024

The Bundesbank sees the German economy slowly regaining its footing after a roughly two-year period of weakness. Not only will private consumption gradually pick up again, but export business will also improve again from the second half of the year. “The German economy is extricating itself from the period of economic weakness,” Bundesbank President Joachim Nagel said on publication of the current Forecast for Germany. According to the forecast, real gross domestic product (GDP) will rise by a calendar-adjusted 0.3% this year.

Bundesbank Forecast for Germany: German economy slowly regaining its footing
Container ship in a harbour from above ©aerial-drone / AdobeStock