Germany and Hungary Propose New Solidarity Taxes on High Incomes and Wealth

In Germany, SPD mayoral candidate Steffen Krach announced a "future solidarity tax" of 5 % on individual incomes above €300,000 (and €500,000 for married couples). The levy, limited to 2025‑2030, would channel revenue into education and family relief measures, aiming to boost support for upcoming social reforms.

In Hungary, the government confirmed that the existing solidarity levy will continue to be collected, with Budapest receiving a payment deferral until mid‑October. Officials also outlined a forthcoming wealth tax expected to raise 300‑600 billion forints, targeting total asset values rather than income growth. Additional funding of 3.6 billion forints will modernise climate control systems in several hospitals.

Both proposals reflect a broader trend in Central Europe of introducing levies on higher‑income earners and wealth to fund public services and address fiscal challenges.