Unique gathering - Legislature handles proposed additional borrowing.
The state legislature in North Rhine-Westphalia is set to debate proposed new loans in their budget on Monday at 3:00 pm. The Social Democrats (SPD) have requested an extraordinary parliamentary session.
Finance Minister Marcus Optendrenk (CDU) disclosed to reporters on Wednesday his intentions to employ legal wiggle room to secure additional credit. This move is supposedly in response to the diminished tax projections resulting from economic stagnation.
The SPD opposes Optendrenk’s sudden switch and demands clarification. Earlier in April, he told the "Rheinische Post" that a debt-backed special fund was unfeasible because "there is indeed a sluggish economy, but it's not a state of emergency."
Annoyed with the inconsistency, the SPD wants answers. While he is considering using the conjunctural element of the debt brake to permit loans under hardships, he neglected to mention a specific loan amount.
Optendrenk intends to enlighten the assembly regarding his black-yellow coalition’s strategy, "to guarantee economic and social infrastructure for the long term through future investments and monetary discipline during trying periods."
