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Tuesday, October 4, 2022

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    A way out of the crisis?: Weil calls for suspension of the debt brake

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    Lower Saxony’s Prime Minister Stephan Weil (SPD) wants to force Finance Minister Christian Lindner (FDP) to suspend the debt brake again with a federal and state resolution in order to finance an energy price cap worth billions for citizens and companies. “We should decide that. There’s no other way,” Weil told the Tagesspiegel. “I very much hope that we will find out together: This is an emergency within the meaning of the Basic Law.”

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    Chancellor Olaf Scholz (SPD) will meet with the state heads of government next week to discuss ways out of the crisis following the Russian war of aggression in Ukraine.

    “It is possible that this will not happen on September 28,” said Weil, referring to his call for a decision to suspend the debt brake again. “Then it has to happen at the following meeting, in mid-October in Hanover,” said the SPD politician. Because of the state elections in Lower Saxony on October 9, the Prime Minister is under pressure to quickly agree further relief.

    I have an incorrigible belief in reason.

    Stephan Weil, Prime Minister of Lower Saxony

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    The Social Democrat points to the conservative Tories in Great Britain as an example of rapid, unorthodox action. Britain’s new Prime Minister, Liz Truss, has now announced a £150 billion program to impose an energy price brake on Britain. 150 billion pounds. And this despite the fact that the British Tories are not exactly known as advocates of the welfare state,” said Weil.

    So far, the traffic light coalition has only promised an electricity price brake, but this should only come if there is a regulation for skimming off profits in the electricity sector. So far there is nothing concrete for a gas price brake, an expert commission has been set up for this purpose.

    Weil is pushing for more speed and action by the traffic light coalition at federal level and is above all relying on Federal Finance Minister Lindner to change course on the debt brake: “I have an incorrigible belief in reason and I am very sure that the countless alarm calls from the economy, especially from the medium-sized economy, also in the Federal Ministry of Finance,” said Weil.

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    Source: Tagesspiegel

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