German Industry Leaders Express Concern Over Business Climate
The head of the German Metal and Electrical Industry Association, Stefan Wolf, has described the conditions for businesses in Germany as “catastrophic”. He believes that social contributions, bureaucracy, energy costs and taxes are having a severe impact. “We need an economic turnaround immediately if we want to save our location” Wolf told the Funke Media Group (Wednesday editions).
Wolf emphasized that the economy should be the top priority for political parties, both before and after the upcoming federal election. He referred to the “Economic Day of Action”, a protest planned for Wednesday, where companies and trade associations will demonstrate in several German cities, including in front of the Brandenburg Gate in Berlin.
Criticism of the economic policy is also coming from the Family Businesses Foundation. “Something needs to happen and companies and economic organizations need to take to the streets. Family businesses are losing patience” said David Deißner, the organization’s managing director, in an interview with the Funke newspapers.
Deißner believes that the location of Germany is being hindered by bureaucracy, high taxes, high energy prices, high labor costs and decreasing productivity. “We need quick solutions to make Germany competitive again” he demanded.