really invest the i pressed cobra walked into the program. germany's economy minister says he wants to continue with the funding of multi 1000000000 euro economic projects. that's despite a recent court ruling, preventing the government from re purposing left over funds raised to find defend demik, the ruling trigger, a crisis over the government's budget for next year, as it cannot raise new debts due to a constitutional so called that break. or i would have accepted the federal government and the states of germany are working together to find a way to keep money flowing, surprises love describing them as affecting the economic heart of germany in big fears. on more on what he had to say. do you projected redeem it to the project like within the climate, then transformation? fun concerned the heart of germany's economy towards loans. the economy data behind this has become common. knowledge comes out and it was due to the loss of the 60000000000 euros expected from this funded. we're expecting economic growth to

drops by at least half a percentage point this year. and this trend will continue in 2025 and 26. if to a lesser degree, at this point, we have to defend the substance of germany's economy. and we have to build trust in our businesses across the country by the indian with your own fed, thrown and doing the team a hyphen gun. that's got the view of carson just calendars such as economist at i n g germany. welcome back to the problem, carson. have a percentage point less of g d p growth affects to the government's budget crisis. that's what the economy minister is predicting. is that realistic or do you anticipate a worse impact as a sign even worse price? um, cuz yes, 0.5 percent to ship ones. impact is realistic. given the size of the $60000000000.00 euro hole as they $60000000000.00 is around 1.6 percent off. due to

some kind of disturbing measures what for the already know, or if you the key growth by all point higher percentage bonds. but this is not everything. it is also about uncertainty that has gone up through the roof against the uncertainty and most consumers uncertainty amongst the corporate. so given this policy answer me right now, there will be even more of holding back investment. there will be even more holding back of consumption slide to the 2024. if we won't find a quick solution for this fiscal issue, 2024 will be worse than 2023. and for 2023, i think we should already expect a recession by wrong minus 0.5 percent of the economy ministers, promising that all financial support promise to companies trying to transition towards a green economy will be upheld despite this very difficult fiscal situation at what cost as well either at the cost of the

maybe a falling of the government otherwise. and the cost of a higher taxes for expenditure comes else we're going to where where is the status for the status quo? oh is that there is not enough money also not in the 2024 budgets to to fund all the plans that the government had announced. so that is a fact. so either now the government can deviate once again from the physical debt break, which i think they won't dare to and wish legally room very complicated. otherwise they find a structural solution say, all right, let's go for a complete make over of the day of the dead break. but for this they need the opposition to shoot you. and i think that's also not going to happen. so that the only thing is if you have to do it with the money that there is in the budget, it means there are more expansion plan to save money coming in. so this means other expenditures, like for example, the social care. but also the, the dual guard gail which,

which is kind of social benefits this just because again, or they would have to start talking about higher texas something the liberals, the ftp haven't ruled out so far. custom. jessica, chief economist at i n g germany cars and as always, thank you for your thoughts. last week, countries at the united nations voted for the organization to take a greater role in international tax matters. the move is perceived as a threats to the ascendancy of the o, a cd, the body that has led these discussions for decades. countries that the u. n. adopted a resolution to begin the process of establishing a framework convention on tax and completely change how global tax rules are the side. resolution was that primarily by african member states and could eventually move decision making on global tax rules from the city club developed countries to the us before the show i spoke to at least call them

of the tax just as network and ask them why he thinks that developing countries stand to benefit from the you and playing a bigger role in taxing multi nationals and individuals. here's organization says that the tax avoidance costs the world around $480000000000.00 annual. the larger part of that is lost by obesity, members, the rich countries themselves, but as a share of current tax, revenues is much bigger, much more intense, those losses for lower income countries. so the state in countries that have a voice within the c d, which has been accepting the tax rules for about 60 years of the countries that lose are in the way there's most damaging. and so they lose almost on average, almost 50 percent of the public health budget compared to perhaps 9 or 10 percent in the high income countries. so that's why it's really important that this is

a step on the way to lower income countries having an equal say, in setting the rules. that doesn't mean will get to a perfect solution, but it's 9. this is a lot of space for all countries to to be much better off alex, let's take a closer look at disagreement. the to tech deal aims to create a 50 percent global minimum corporate tax rate and calls for a new treaty that would shift some taxing rights on the most profitable multi nationals to countries where the companies clients are located. now how likely is it that these plans will become reality? it's so it's not terribly likely, but that's nothing to do with what's happened to the united nations. that's purely because the cd. the 2 pillars have really lost so much of the emission. so the pillar one was originally designed to, to really make a profit shifting, almost impossible. in the most ambitious version, it would have required all of the profits of mounting national companies to be

declared and taxed in the same places that they are carrying out their real economic activity. so that would still be shifting prospects into places like the method. wenzel island, deluxe and bug, you know, away from the places that the companies are actually making that money. but that's collapse matter. so what's left is a bit of a bit of alignment of profit with activity that applies only to a small fraction of the profit of view within one hundreds of the mileage as multinational. as all other profits remain under the old rules and linked pricing that we know to work. so that one's going. and on top of that, the united states a signal that they wouldn't be able to ratify. and the rules as, as the of the city is written, the means that that means nobody else can move ahead with this either. so probably one is pretty much dated. and that's, that's just the way you see doing that pillar to the minimum tax. as you say, in theory, that would apply a rate of 15 percent very low, but much better than the kind of a 0 or 5 percent. perhaps that the companies often pay in those you are paying time

savings like the netherlands, like look some book. so it feels like a step forward, but actually when you look at the detail as people now have the way that this is involved in the last couple of years. again, it's lost a great deal of it, something vision. so what we see now is the revenue gains are going to be much lower than the of the cd originally projected. and on top of that, most of them will be captured by those corporate tax savings. they've profit shifting jurisdictions. so those are the ones the most, the most excited when bracing this you know, we see switzerland and it's, it's different can tones competing with each other to see how they can get the most out of this for most of the countries that can continue suffering, profit shifting just as they have done up till now. and that's why really countries to look into the united nations to see if we can find a better way a better way forward instead of alex couple them of the tax justice network there.

and you can watch our entire conversation on the dw, use youtube channel. it is the 5 years now, and the country has for years been a hotspot for investment stemming from israel. but that has changed since the october 7 attacks by a mosse and israel's counter offensive against the terrorist slippery and real estate companies in particular, are seeing major drops in demand. dw is jack power reports. the most about shelton is a real estate developer in cyprus, he's building large scale projects like this one in law and using money coming, at least in pulse for me is really investors. he says there's been a 90 percent dropping investments since the terror attack. everything isn't even hold the people that we're aiming to sign contracts said they want to reconsider said they want to postpone the signing and any other marketing, some things. the also stops and the people are just waiting to see what the future

will bring. when reason, these rated currency, the ship, who drops 10 percent against the euro. in the immediate off to most of the attack developers on big construction projects like days expect to be able to ride dies any short term shift in demand. but here in cyprus, that has also been a shift in the real estate market for people to move into properties immediately. vessel cycle says he's been selling significant numbers of homes in law and the cookie young use way, the families for the past decade. i used to see this and also these 20 or to be quite yeah, they said they from from these right. very space that they haven't done. he believes it's certainly temporary though. i says that's a very interesting cypress. it didn't stop is just the plus side presses home to ryan, $3000.00 jewish families already. they say they feel safe here long the crew is

popular because it host the international airport. a 40 minute flights tel aviv make go move to 6 years ago and has been visiting properties like this to advise friends and family back in israel and want to invest in and why the price is uh, i would say half of what is the price and is uh around half a price is the lease where the property are relatively high. it's too soon to know how significant the market shifts will be for the overall cit, prius economy. but businesses connected to over lions on these really money a real bracing themselves. and that wraps up our show for more check out our website at www dot com slash business, and the dw use youtube channel. i'm chris kolber, on berlin from me and the entire team. thanks for watching. have a successful the

institution this award recognizes people connected via the interest, freedom of our 2023 bits and metals to to recipients from to the leasing type. hey, in budapest, the vanity 30 minutes d. w is around lice, off to the terror attacks. nothing is as it was since the mass of tax on october 7th. the country is in showing how do people experience this trauma and the daily danger the

vice wrote about vacuum. one giant leap for exploiting the ocean floor. cutting edge technology is i'm looking to potential of dc mining. and the vehicle's been designed to pick up nodules and leave as much sediment behind as possible. but this time, a research team will study the possible in order to minimize then we have an opportunity to get it right before we even start. we have a whole new industry that will proceed only when regulation. so things are to replace the environmental activists of skeptical is this true nature conservation, and the green washing of the rules bill billions to be made out to pub documentary, deep sea greed stats, december 7th on d, w. the

business, the, the, the news line from talon to choose between israel, um, how mass has been extended for a father to day that's according to the could sorry, foreign ministry of seduce or that'd be released during the initial for the full insights and have been undergoing medical checks and really nice thing with them. also on the program, jim and present front about the style might have comments as well, the 7000000 euros to help. and the reconstruction of the kibbutz, betty in israel community was one of those talks in by a mass on the 7th of october.