“The German federal government must not use Corona aid to transform the economy. If no other financing can be found for such projects, there is a risk of decline, says the Federal Minister of Economics.
After the Federal Constitutional Court's ruling on the climate and transformation fund, Federal Economics Minister Robert Habeck (Greens) fears that the country will suffer economic decline if the projects for the climate-friendly restructuring of the economy are not financed in other ways.
“The climate and transformation fund is a fund to secure value creation and jobs,” he told the Frankfurter Allgemeine Sonntagszeitung. "If that is at risk, jobs and value creation are at risk. The migration of industry is damaging our country and society. Industry means work, production, value creation."
Competition for climate technologies
Habeck emphasized that global competition is currently taking place over climate technologies. “The US has set standards with its Inflation Reduction Act,” he said. “Other countries are also making progress.”
German companies have also been on this path for a long time. "But they need support so that they can invest in our country. And it is a myth that in other countries the market alone does this. Other countries massively support their economies."
After the ruling from Karlsruhe, the question of whether the German industrial location remains competitive is “a concern of all democratic parties,” the minister added. "The challenge is great."
The Federal Constitutional Court ruled on Wednesday that the reallocation of 60 billion euros in unneeded Corona aid in favor of climate and industrial policy violates the debt brake in the Basic Law. This primarily affects projects from the Federal Ministry of Economics, led by Habeck. Other financing must now be found for this." [1]
1. Habeck warnt vor Abwanderung der Industrie. Frankfurter Allgemeine Zeitung (online) Frankfurter Allgemeine Zeitung GmbH. Nov 17, 2023.
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