Conservative Party Backs Debt Brake Reform

Conservative Party Backs Debt Brake Reform

Negotiations surrounding a reform of Germany’s debt brake (Schuldenbremse) remain on track, according to leading figures from the center-right Union bloc. Mathias Middelberg, parliamentary group deputy leader for the Christian Democratic Union (CDU), affirmed the commitment to the agreement outlined in the coalition contract during an interview with “Rheinische Post”.

Middelberg confirmed the impending establishment of an expert commission tasked with modernizing the debt brake. The body’s proposals will be assessed to determine whether amendments necessitate a change to the Basic Law, requiring a qualified majority, or if adjustments can be implemented through ordinary legislation passed with a simple majority in the Bundestag.

The confirmation from the Union comes after calls from Lars Klingbeil, SPD leader and Vice Chancellor, who recently urged for the debt brake reform as stipulated in the coalition agreement. The ongoing discussions reflect a continued effort to balance fiscal responsibility with the need for investment and potential economic adjustments.