Federal budget in distress: Economist calls for sacrifices from workers for climate and defense

Federal budget in distress: Economist calls for sacrifices from workers for climate and defense

According to a report by www.faz.net, economist Guntram Wolff demands that Germans should forego two public holidays and instead work more in order to ease the burden on the federal budget due to increasing military spending and social benefits. He points out that the penance and prayer day was sacrificed for long-term care insurance in 1994 and that Germans' annual working hours are lower than in many other countries.

It is undeniable that every tax euro must be earned through work. The fact that employees and the self-employed are the key performers in our society is clearly reminded by Wolff's proposal. The state must therefore carefully consider how much of a burden it can place on its service providers.

From a financial perspective, reducing holidays and increasing working hours could lead to an increase in GDP and tax revenue. This would allow the state to cover its spending on defense and social services without increasing the tax burden on citizens. On the other hand, longer working hours could also lead to higher productivity and competitiveness of the German economy. However, the social impact and health of workers must also be taken into account.

Overall, Guntram Wolff's proposal is controversial and further research is needed to understand the long-term effects on the labor market, the economy and society. The debate about the balance between workload, tax burden and government spending will certainly continue and requires thorough analysis.

It remains to be seen whether this proposal is politically feasible and what impact it will actually have on the financial sector and the labor market.