German trade union DGB proposes 10% wealth tax on super‑rich to fund budget gap

The German Confederation of Trade Unions (Deutscher Gewerkschaftsbund, DGB) has put forward a plan to levy a one‑off 10 percent tax on the net private assets of individuals whose wealth exceeds €10 million. The proposal, aimed at the richest 0.1 percent of Germans, is projected to generate about €17.6 billion a year and is part of a broader effort to raise €120 billion in additional revenue to cover large deficits driven by high energy costs, increased defence spending and the transition to a greener economy.

DGB deputy chair Stefan Körzell argued that the tax is needed to prevent cuts to social benefits for working people, while critics warn it could trigger capital outflows, weaken family‑owned businesses and diminish Germany’s attractiveness for investment.