Olaf Scholz

Regional News • World
OECD about to achieve breakthrough in tax reform

With the largest international tax reform in decades, the Organisation for Economic Co-operation and Development (OECD) wants to regulate how global corporations are taxed. Now the 137 countries involved have come close enough to a consensus that a breakthrough is imminent.

The German Finance Minister Olaf Scholz has stated that "we have taken a huge step forward with the unanimous agreement on the blueprints for reforming global corporate taxation" and added that in his opinion the OECD "will be able to reach final agreement on this major reform project by summer next year. After all, the project still needs political approval, and so far the green light from the United States in particular has been lacking".

Regional News • Europe • Germany
Social Democratic Party of Germany nominates finance minister as chancellor candidate to try to succeed Merkel after 2021 elections
Social Democratic Party of Germany nominates finance minister as chancellor candidate to try to succeed Merkel after 2021 elections
Credit: Olaf Kosinsky (Creative Commons Attribution ShareAlike 3.0 DE)

The Social Democratic Party of Germany (SPD) has announced that Olaf Scholz, currently finance minister in the cabinet under Angela Merkel, will headline the election efforts of his party with the goal of becoming chancellor after the general elections in 2021.

Angela Merkel has previously announced that the current term will be her last one. The SPD is the first party to nominate their front-runner for the elections.