Tuesday, December 17, 2024
Islamabad (News International / Pakistan News - 17th December, 2024 ) All major political parties in Germany are presenting their election platforms today, Tuesday. A day earlier, Chancellor Olaf Scholz failed to get a vote of confidence from parliament, paving the way for early elections on February 23.
Olaf Scholz’s coalition government in Germany, Europe’s largest economic power, ended when differences arose within the three-party government coalition on economic issues.
The German economy is currently the most important issue among German voters.
The German economy is predicted to shrink for the second consecutive year compared to other major alliance countries. Different political parties are presenting their own proposals regarding the revival of the economy, which will also be part of their election campaigns.
Social Democratic Party
Chancellor Scholz’s center-left Social Democratic Party (SPD) is proposing to invest an additional 100 billion euros in the budget to encourage private investment and modernize infrastructure.
The party also plans to introduce a “Made in Germany” premium to boost domestic investment. The plan includes a direct tax deduction of up to 10 percent on business investments.
To promote the purchase of German-made e-vehicles, the SPD is also proposing to offer buyers temporary tax breaks.
Christian Democratic Union and Christian Socialist Union
The conservative opposition Christian Democratic Union and its sister party in Bavaria, the Christian Socialist Union (CSU), are proposing extensive financial support for companies and citizens. They are proposing to reduce income and corporate taxes and also cut electricity prices.
However, the parties are unable to explain how this will be financially feasible. The proposal is being strongly criticized by other parties.
The conservative leader Friedrich Merz, who is in the polls to become Germany's next chancellor, is in favor of less drastic reforms to reduce government debt.
The Green Party
Economy Minister Robert Heibeck, the Green Party's candidate for chancellor, is pushing for reforms to curb government debt.
He says this would allow for increased public spending.
The Greens intend to invest in financial markets to generate more funds for the statutory pension scheme, which they would create a "citizen fund".
The fund would have to meet sustainability criteria and be aligned with the 1.5 degree Celsius target of the Paris climate agreement.
The Greens' election program includes a tax break for "low and medium-income" people buying electric vehicles.
The party's election program also includes a proposal to raise the minimum wage to 15 euros an hour by 2025, up from 12.41 euros currently.
The neoliberal Free Democrats (FDP) present themselves as the biggest defenders of debt prevention.
The main reason for the fall of the Scholz government was the refusal of former Finance Minister Christian Lindner, who also belongs to the same party, to suspend the government's debt limit.
The party has not yet presented its election program, but an 18-page policy document, which caused tensions between the coalition partners in early November, gives an idea of the party's economic lines.
The FDP supports tax cuts to boost the economy, and the document proposes abolishing the "solidarity" surcharge. This "one-sided surcharge" was imposed as an additional measure after the reunification of East and West Germany, which was intended to help the poorer eastern states.
The party also criticizes overly ambitious climate change targets and proposes an immediate halt to new regulations.
AfD
The far-right Alternative for Germany (AfD), which is the second-largest party after the conservatives according to recent polls, proposes a “Dexit” for Germany, similar to Britain’s exit from the European Union.
The party wants the country to abandon the euro and reintroduce the Deutsche Mark.
The AfD supports debt relief and proposes cuts in spending on climate protection and participation in international institutions.
It is significant that all of Germany’s major political parties refuse to include the AfD in any future government. The AfD has already submitted its draft election program.
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