Overview
- Hamburg projects roughly €2.5 billion more in tax revenue through 2029/2030 versus May, yet the finance senator rules out new ongoing spending.
- Year-by-year for Hamburg, the uplift versus the spring estimate is about €527 million in 2025, €393 million in 2026, €485 million in 2027, €485 million in 2028 and €652 million in 2029.
- Schleswig-Holstein expects about €1.1 billion more through 2029, with officials stressing the gains narrow deficits and do not open fresh fiscal space.
- Both states warn federal tax plans are not fully reflected and would cut receipts if passed, with Hamburg estimating a hit of roughly €450 million through 2030.
- Hamburg highlights access to about €2.66 billion in federal investment funds restricted to capital projects, as both governments prepare a difficult 2027/2028 budget under rising mandatory costs.