Big parties propose sharply diverging plans to revive fortunes of Europe’s largest economy
German voters are heading to early elections after chancellor Olaf Scholz’s three-way coalition imploded under the strain of the country’s economic and security challenges. On February 23, they will decide which parties will be given the task of reviving the Eurozone’s largest economy, which faces a potential contraction next year and grapples with the repercussions of the war in Ukraine.
Relaxing the provision would create fiscal room to address growing defence spending needs and modernise the country’s ageing infrastructures. However, Merz’s manifesto has no mention of any change to the debt brake, which remains popular in conservative circles. Instead Merz is seeking €50bn in spending cuts from welfare reform and another €50bn from a shake-up of the immigration system. By contrast both the SPD and the Greens want to ease the provision.
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