Due to flooding - SPD politicians: consider suspending the debt brake
In view of the acute flooding situation in Germany, SPD budget politicians have brought up the idea of suspending the debt brake once again. "The floods are causing immense damage, especially in Lower Saxony," SPD member of parliament Andreas Schwarz told Der Spiegel. "We could suspend the debt brake to cover these costs." This would also be possible after the latest budget ruling by the Federal Constitutional Court. "After all, this is an unforeseeable natural disaster. The ruling leaves room for this," said Schwarz.
The SPD parliamentary group's budget policy spokesman, Dennis Rohde, told Stern magazine: "The full extent of the flood damage is not yet foreseeable, but we have the option of suspending the debt brake in the Basic Law for precisely such cases." The ruling of the Federal Constitutional Court has not changed this. "We will now closely examine whether we can achieve this financial dimension."
The debt brake stipulates that federal and state budgets must be balanced without revenue from borrowing. However, according to the Basic Law, it can be suspended in the event of natural disasters or other extraordinary emergencies if the state's financial situation is significantly impaired. The German government is currently examining whether the flood aid following the 2021 flood disaster in the Ahr valley justifies a renewed suspension of the debt brake this year.
Federal Chancellor Olaf Scholz (SPD) visited the current flood area in northern Lower Saxony on Sunday. He assured the affected states and municipalities that the federal government would support them in coping with the floods "to the best of its ability". Scholz did not make any concrete promises of financial aid.
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Source: www.stern.de
