only 100 billion euros more debt

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The federal and state governments have put many billions in their hands to cushion the effects of the corona crisis. On the whole, you should leave it at that, says the Union. The SPD sees it differently.

According to CSU boss Markus Söder, the federal government should only be allowed to incur a maximum of 100 billion euros in additional debts this year. In his speech at the Internet party conference in CSU history on Friday, the Bavarian Prime Minister for the first time backed the CSU’s demand for an upper limit for German government debt with a concrete sum.

Limiting public debt in the Corona crisis is controversial among the parties in the grand coalition. While other Union politicians besides Söder also plead for capping, the SPD also wants to put together an aid package for the municipalities.

Scholz: 57 billion for the municipalities

The idea came from Finance Minister Olaf Scholz (SPD), who had brought up a protective shield for the municipalities worth 57 billion euros. The money is intended to compensate for slumps in trade tax due to the corona crisis, but also to enable a haircut.

SPD leader Norbert Walter-Borjans supported this proposal. This could both deal with the pandemic effects in the municipalities and solve the problem of old debts. The Minister of Economic Affairs Peter Altmaier (CDU) objected. “We have to handle citizens’ tax money carefully and sparingly,” he told the German Press Agency.

Watch what CSU boss Markus Söder is saying in the video above or click here.

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