Federal Finance Minister Jörg Kukies (SPD) considers the future financing of investments in infrastructure and defense without the reform of the debt brake, solely through budget cuts, to be illusory.
“The debt brake had a positive impact, it allowed us, for example, to counter the Covid-19 crisis with force. However, we have built up a significant investment backlog, which everyone sees: bridges, kindergartens, and schools have been suffering from decades of underinvestment” Kukies told the “Rheinische Post”. This is now being addressed, but a targeted reform of the debt brake is also needed, the SPD politician said.
“It is clear that we must significantly increase the defense budget in the long term to fulfill our international obligations. Various options are on the table for this. For me, the crucial point is that we must fulfill the NATO’s two percent of GDP goal in the long term” Kukies said. “To fulfill our obligations, at the latest from 2028, at least 30 billion euros more per year must be made available from the federal budget. This is not trivial, and all parties must make proposals for this.”
Priorities must be set in the budget. A targeted reform of the debt brake will not create unlimited room for maneuver. “However, it is illusory to think that the necessary funds can be generated solely through cuts. All parties will have to answer the question of how we will finance important future investments in the future. And investments in defense are definitely a must” Kukies said.