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Corona debt reduction: are state holdings being sold?
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Minister of Economic Affairs Altmaier wants to examine the sale of state holdings. The aim is to reduce debt. Where are there investments?
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Corona crisis: Call for help from business and culture
– The Greens, together with representatives from retail, gastronomy and the cultural sector, have called for further help for inner cities in the Corona crisis. The federal government should reduce the bureaucracy of the November financial aid for companies and pay them out quickly, according to a ten-point program presented by the Green parliamentary group leader Katrin Göring-Eckardt in Berlin.
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Berlin. The German state has already saved many companies in crises: The federal government recently participated in the German Lufthansa and granted TUI billions in loans when the corporations stumbled due to the corona pandemic. In total, the federal government is currently involved in more than 100 companies – including Deutsche Post, Telekom, Commerzbank, Volkswagen and numerous airport companies.
Now Federal Economics Minister Peter Altmaier (CDU) wants the sale of some billions State shares check with companies. “The value of the state holdings has grown considerably in recent years. That is why we should examine which state investments can be reduced, “said Altmaier of” Welt am Sonntag “. “That also brings money into the state treasury that we can use for future investments.”
The German state is directly involved in 104 companies
According to Federal Ministry of Finance According to the latest report from 2019, the federal government was involved in 104 private law companies in Germany. The range of investments ranges from listed corporations to small companies. The federal government has a majority stake in 47 companies. There are also 433 indirect holdings.
The German state budget was by the billions Corona aid programs heavily burdened for the economy. Politicians are now looking for solutions to reduce debt. Altmaier’s move comes in the middle of a debate about how the federal budget should continue in the coming years – whether new debts should be taken on, whether there should be tax increases or spending cuts.
Billions in Corona aid are tearing a hole in the budget
To support companies, but also self-employed people and citizens, the debt brake anchored in the Basic Law has been repealed. Recently, Chancellor Helge Braun (CDU) had a debate about the continuation of the Debt brake set in motion. It only allows new loans to a very limited extent. The corona crisis, however, continues.
At the same time, the federal government is counting on this less growth than initially hoped. Altmaier is fundamentally in favor of the debt brake. They discipline and give future generations enough financial leeway. At the same time, the minister rejects tax increases. “The faster the economy gets going again and can let its self-healing powers work, the more tax revenues grow without us having to increase taxes.” This is the best prerequisite for being able to return to the normal state of the debt brake.
Background:Now the number of long-term unemployed is also increasing
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