German Chancellor Gerhard Schroeder hit back at the Opposition Christian Democrats last week, claiming that their tax cutting promises would be impossible to keep without jeopardising the country's commitment to the EU Stability and Growth Pact.
Discussing his draft budget proposals for 2003, Mr Schroeder slammed conservative rival for the chancellorship, Edmund Stoiber, condemning his party's plans for massive tax cuts as 'completely irresponsible,' according to a Financial Times report last week.
The Free Democratic Party also weighed into the fray on Thursday, dismissing Chancellor Schroeder's claims that tax cuts would be ruinously expensive. Speaking to the Reuters news service, FDP Tax Policy Spokesman, Hermann Otto explained that his party's tax plans could be financed without compromising the goal of balancing the federal budget by 2006.
However, when questioned by the news service as to whether the FDP would abide by the pledge to bring the German deficit close to balance by 2004, Mr Otto replied that: 'We didn't make this promise, (German Finance Minister Hans) Eichel did'.
The FDP shared power with the conservatives for 16 years, until the 1998 election victory by the Social Democrat-led coalition.
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