Minister of Finance - Bayaz on the federal budget: Questions remain unanswered
Finance Minister Danyal Bayaz has welcomed the German government's breakthrough in the budget dispute, but at the same time warned against cutting back on innovation. "It is good that the federal government has finally reached an agreement," the Green politician told the German Press Agency. The reduction of climate-damaging subsidies is the right thing to do in terms of ecology and regulatory policy, as is the fact that the CO2 price is being taken seriously again. "Now, however, a payment mechanism for a climate money must follow promptly, and the Federal Government has its word on this."
Bayaz emphasized that some questions remain unanswered: "In particular, the resources of the Climate and Transformation Fund must be secured for the modernization of the business location. What matters here is sensible prioritization, stretching and outflow of funds." If savings are made on innovations, this will be at the expense of the future.
Four weeks after the historic budget ruling by the Federal Constitutional Court, the coalition government reached an agreement on Wednesday on how it intends to close the billion-euro gap in the 2024 federal budget. Savings and cuts are planned, which will also affect consumers in terms of electricity, gas and petrol prices. The money is to be saved primarily by abolishing climate-damaging subsidies, making cuts to the budgets of individual departments and reducing federal subsidies.
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- Danyal Bayaz, the Finance Minister, expressed his satisfaction with the Federal Government's resolution in the budget dispute, but expressed concern about potential cuts to innovation.
- The German Press Agency reported Bayaz's remarks, stating that he urged the Federal Government to promptly implement a payment mechanism for climate funds, intended for modernizing businesses.
- The Coalition government, four weeks after the Federal Constitutional Court's historic budget ruling, agreed on Wednesday to close the billion-euro gap in the 2024 federal budget.
- Bayaz emphasized the significance of securing resources for the Climate and Transformation Fund, aimed at smartly prioritizing, budgeting, and allocating funds for modernizing the business location.
- The Minister of Finance also highlighted his concerns concerning the potential impact of savings on innovations, stating that it could negatively impact the nation's future.
- In a possible aftermath of the budget dispute, household expenses might incur increased prices for electricity, gas, and petrol due to planned savings and cuts, primarily from abolishing climate-damaging subsidies and reducing federal support.
Source: www.stern.de
