Saxony's financial expert calls for a change in economic policy

Saxony's financial expert calls for a change in economic policy

According to a report by www.focus.de, Saxony's Prime Minister Michael Kretschmer is concerned about the budget crisis and criticizes the traffic light government. He states that the federal government's economic policy has led to an increase in social costs and a deterioration in the situation of companies. Kretschmer demands that the economic and financial policy direction must be fundamentally changed in order to stop the rising debts. He suggests that a million more citizens' benefit recipients should work to save 30 billion euros annually. In addition, he speaks out against a planned increase in citizen's allowance and emphasizes that new refugees from Ukraine to Germany should no longer receive citizen's allowance. He also questions whether low-skilled migrants could be employed below minimum wage rates. These statements could have a significant impact on the market and the financial industry. It is expected that the proposed measures would lead to an increase in employment and a decrease in social costs, which could potentially improve the financial situation of the federal budget. The rejection of the planned increase in citizen's allowance could have an impact on consumer spending, especially for those dependent on citizen's allowance benefits. In addition, the proposed restrictions on refugees and migrants could affect the workforce situation in certain sectors and lead to further discussions about immigration policy. The increasing tension between the federal government and the conservative parties could also change the political landscape and lead to uncertainty regarding future economic decisions.