Germany’s Finance Minister Defends Record-Breaking Debt and Spending Plans
In a recent interview, German Finance Minister Lars Klingbeil of the Social Democratic Party (SPD) defended the country’s record-breaking debt and spending plans, which are part of the federal budget. Klingbeil argued that the investment policy shift is necessary and justified, saying that it is right to “initiate an investment policy paradigm shift”.
The minister emphasized that failing to invest in the country’s infrastructure, education and defense would be a disservice to future generations. He cited the need for a modernized rail network, better-equipped kindergartens and schools and a well-equipped Bundeswehr to protect the nation.
Klingbeil expressed his hope that citizens will “quickly notice that something is changing in our country” as a result of the new spending plans. The proposed budget includes cuts to subsidies and administrative costs, a move that has been criticized by the opposition as insufficient.