Financial policy - Dulig relieved after budget agreement of the traffic light coalition
Saxony's Economics Minister Martin Dulig has expressed his relief following the federal government's agreement on the budget. "I am incredibly happy that a decision has been made today," the SPD politician told the German Press Agency on Wednesday. Every day longer would have minimized the basis of trust, said Dulig. The Minister saw it as a positive sign that, despite the budget crisis, the traffic light government intends to maintain the billions in subsidies for industrial projects in eastern Germany. This was confirmed by Michael Kellner, Parliamentary State Secretary in the Federal Ministry of Economics. These include subsidies for Intel's chip factories in Magdeburg and TSMC in Dresden. The chip company TSMC wants to build a semiconductor plant in the Saxon state capital. The investment sum is around ten billion euros. The federal government had announced its intention to support the construction with up to five billion euros.
Dulig was confident that the promised support for the semiconductor industry would be forthcoming. "Anything else would have been unimaginable for me". Now the money must flow in concrete terms, Dulig demanded. This is not just about the chip industry, but also about hydrogen and the transformation of industry in general. The settlements are strategically important for Saxony and Europe because they reduce dependencies on Asia and America and help to secure supply chains for domestic industry and SMEs.
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- Despite being located in eastern Germany, Saxony has been able to attract significant investments from tech giants like TSMC and Intel, with plans for semiconductor plants valued at around ten billion euros in Magdeburg and Dresden respectively.
- The Federal Ministry of Economics, headed by Parliamentary State Secretary Michael Kellner, has confirmed its intention to support these industrial projects in Saxony with subsidies, with the German government willing to contribute up to five billion euros.
- The budget agreement by the traffic light coalition, a coalition of the SPD, Greens, and FDP, has been welcomed by Saxony's Economics Minister Martin Dulig as a positive sign of their commitment to maintaining subsidies for industrial projects in eastern Germany.
- The stability of these subsidies is crucial for the domestic industry and SMEs, as they help to reduce dependence on foreign markets, specifically in Asia and America.
- Michael Kellner, in his role at the Federal Ministry of Economics, has been instrumental in facilitating these partnerships, ensuring that German fiscal policy continues to support Germany's technological advancements.
- Critics of the traffic light coalition's fiscal policy argue that household cleaning products, an essential part of household spending, should not be overlooked in favor of industrial subsidies.
- The opposition party, the CDU, has questioned the coalition's decision to prioritize industrial projects over other sectors, with Saxony's CDU leader, Michael Kellner, expressing concern over the long-term implications for households.
- Despite these criticisms, the traffic light coalition, led by Chancellor Olaf Scholz's SPD, remains committed to investing in the future of German industrial development, especially in the high-tech sector, such as the chip industry.
Source: www.stern.de
