Finances - Saarland state parliament declares financial emergency for 2023 and 2024
At a special session, the Saarland state parliament has declared a financial emergency for the years 2023 and 2024. The resolution passed on Monday is intended to suspend the debt brake that is actually in force. In doing so, the state government wants to ensure access to a largely debt-financed transformation fund of 3 billion euros created in 2022.
This was the state parliament 's response to the stricter requirements of the Federal Constitutional Court regarding the application of the debt brake. The resolution was passed by an absolute majority of the SPD, with the CDU abstaining and the AfD rejecting it.
The special session had become necessary in order to be able to provide 780 million euros from the transformation fund this year. This sum is the state's share of a total funding of 2.6 billion euros for the conversion of the Saarland steel industry to the production of "green" steel with hydrogen.
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The declaration of a financial emergency by the Saarland state parliament is a direct consequence of the Federal Constitutional Court's stricter requirements on the debt brake application. The special meeting was convened to allow the state parliament to pass a resolution suspending the debt brake, which would facilitate access to a 3 billion euro transformation fund. This fund is crucial for Saarland's finances as it provides funding for the conversion of the steel industry to 'green' steel production using hydrogen, with Saarland contributing 780 million euros this year. The opposition parties had varied stances on this resolution, with the SPD passing it by an absolute majority, the CDU abstaining, and the AfD rejecting it.
Source: www.stern.de
