Germany's Finance Minister Christian Lindner refuses to meet Intel Corp's demands for higher subsidies for its chip plant in the country, saying that there is no money in the budget, Financial Times reported on Sunday.

"There is no more money available in the budget," the newspaper quoted Lindner as saying in an interview, adding, "We are trying to consolidate the budget right now, not expand it."

(Reporting by Anirudh Saligrama in Bengaluru; Editing by Michael Perry)