German Industry Leaders Express Concern Over Business Conditions
The president of the German metal and electrical industry employers’ association, Stefan Wolf, has described the conditions for businesses in Germany as “catastrophic”. Wolf told the Funke Media Group that social security contributions, bureaucracy, energy costs and taxes are placing a heavy burden on companies. “We need an economic turnaround immediately if we want to save our location” he said, emphasizing that the economy should be the top priority for political parties before and after the upcoming federal election.
Wolf also referred to the so-called “Economic Day of Action”, during which companies and industry associations will stage demonstrations in several German cities, including Berlin’s Brandenburg Gate.
Criticism of the economic policy is not limited to the employers’ association. The Family Businesses Foundation has also expressed its discontent. “Something needs to happen and companies and economic organizations need to take to the streets. Family businesses are losing patience” said David Deißner, the foundation’s managing director, in an interview with the Funke Media Group. According to Deißner, the German location is characterized by bureaucracy, high taxes, high energy prices, high labor costs and decreasing productivity. “We need quick solutions to make Germany competitive again” he demanded.