IGBCE supports SPD: Super-rich should pay for crisis management!

IGBCE supports SPD: Super-rich should pay for crisis management!

The Mining, Chemical and Energy Industrial Union (IGBCE) has reiterated its support for the SPD's tax plans, which aim to address the financial challenges caused by current crises. IGBCE chairman Michael Vassiliadis has emphasized that a solidarity contribution from the super-rich is necessary to cushion the consequences of the crises. These contributions should not be perceived as punishments, but rather as an expression of a sense of responsibility. Vassiliadis proposed imposing so-called “future fees” on significant assets, inheritances and income.

Vassiliadis' proposal expresses the desire for a financial balance between those who benefit from the German economy and society. This is in line with Finance Minister Lars Klingbeil's (SPD) plan, which considers tax increases on top earners to address budget deficits. The necessary financing of public services is becoming increasingly important in Germany, especially in the current difficult economic situation.

Political resistance and challenges

Despite IGBCE's support, Klingbeil faces resistance, particularly from the CDU/CSU, which, under the leadership of Chancellor Friedrich Merz, rejects such ideas in principle. At a current union congress in Hanover, attended by around 400 delegates, the future strategic direction of the union will be discussed. Prominent politicians such as Friedrich Merz, Lars Klingbeil and Bärbel Bas are also among the speakers.

Vassiliadis, who is standing for re-election as IGBCE chairman on Tuesday, sees the SPD's tax plans as an opportunity to better master the economic challenges of the future. The union, which has more than 570,000 members, plays an important role in the public discussion about tax and social policy. Vassiliadis' call to hold the super-rich more responsible in order to overcome the crisis could trigger far-reaching social and political discussions.

Tax policy in focus

In Germany there is a wide range of tax types that are used to finance public services. The tax rate, which measures the share of tax revenue in gross domestic product (GDP), was stable at around 23% in 2023. In times of crisis, tax revenues often fall while at the same time government spending tends to increase. This leads to challenges in the financing of social systems, especially with regard to demographic change and rising pension costs.

The parties' different approaches to tax policy reflect the diversity of opinions on this issue. The SPD and the Greens focus on redistribution through higher taxes for wealthy citizens, while the CDU/CSU and FDP focus on tax cuts to stimulate economic growth. The discussion about tax reforms will continue intensively in the coming months, especially until the federal election on February 23rd.

At the political level, it remains to be seen whether the IGBCE and the SPD will find a way to push through their plans against resistance from the opposition and how the public will react to the proposed changes.

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