By Thomas Öchsner
“retirement gifts” and minimum wage: economists make the grand coalition for the impending economic slowdown partly responsible. Even the prestigious project of Government question it.
The leading economic research institutes give the grand coalition of Chancellor Angela Merkel (CDU) blame for the downturn in Germany. “The prospects for the economy are therefore damped because headwind of economic policy is,” it says in their fall.
This criticize economists’ retirement gifts “and the minimum wage and demand to invest more. Also because of the crises in Ukraine and in the Middle East, the researchers expect that the economic performance in Germany in 2014 to grow by only 1.3 and 2015 by only 1.2 percent.
The legal force from next year minimum wage of 8.50 euros will lead “for low-wage to wage increases in the double digits,” says the report. 200,000 low earners could lose their jobs in 2015. This is particularly true for mini-jobs. Scharf, the researchers also criticized the pension from the government, which includes the raising of mothers’ pensions and the tee-free pension from 63 for long-term insured. The full pension fund had been used to increase spending at the expense of present and future contributors. Thus, the pension increase would be lower in 2015 and the contribution rates rise faster in the long term.
“It is the sum of the measures, which dampens investment activity in Germany,” said Oliver Holtemöller, economic expert the Institute for Economic Research (IWH) in Halle. The IWH, the Berlin DIW, the Essen-based RWI and the Munich-based Ifo institute had in its spring forecast is still expected a strong economic growth forecast growth of about two percent.
Not satisfied are economists with the financial policy the government. The goal is to make no new debt for the first time since four and a half decades, they rely on a “status symbol”. DIW economic expert Ferdinand Fichtner said. “I do not think the break even from an economic point of view currently installed”
The researchers call on the Federal Government to use its financial flexibility as the expenditure on education for early childhood education to increase even more to invest in the preservation of roads, rails and bridges. They also hold the opportunity for low to relieve the workers on the elimination of tax bracket creep.
Merkel announced, “Check.” Further investment to These included issues in the digital and energy. “This course we are very decided to go,” she assured. Even Finance Minister Wolfgang Schaeuble promised more investment. This one must “give higher priority,” he said on the sidelines of the annual meeting of the International Monetary Fund (IMF) in Washington. According to information from the Süddeutsche Zeitung However, any changes to the draft budget for 2015 are planned. Since the objective of a balanced budget is to be strictly adhered to, even savings in some places will be needed on the contrary.