The German government intends to give incentives to achieve more economic growth, in light of the downturn experienced by the largest economy in Europe.
On the sidelines of the closed meeting of the German Cabinet at the government guesthouse near Berlin, German Chancellor Olaf Scholz said on Tuesday, that the federal government intends to prepare a what he call it a “campaign” to stimulate growth.
Scholz added, “We’ll also contribute through tax measures so that investments are activated, not postponed”.
The German government has prepared a ten-point plan for Germany as a seat for the business sector.
The plan includes tax facilitations for companies, reducing bureaucracy, investing in climate protection, increasing the number of specialized technical personnel coming from abroad, and accelerating planning and licensing procedures.
The plan stated that the current economic slowdown shouldn’t lead to a hindrance to future long-term investment by companies, or to a continued decline in housing construction.
For his part, German Minister of Economy and Vice Chancellor Robert Habeck said that the development of economic policy is quite difficult, “It’s generally not in a situation that allows us to say that the economy is the one that makes the economy without the intervention of politics”.
Habeck demanded that signals be sent now stating that investing in Germany is feasible.
In turn, Finance Minister Christian Lindner said, “We take very seriously the fact that Germany is growing less dynamically than other countries, but at the same time we realize the essence of the country to support it with various measures.
He explained that these measures primarily include the planned growth opportunities law, which includes tax facilities worth billions of Euros for companies in addition to tax incentives to revive housing construction.