DIHK President calls for more action against bureaucracy - the economy suffers from excessive regulation

DIHK President calls for more action against bureaucracy - the economy suffers from excessive regulation

According to a report by www.volksstimme.de German business is calling on the federal government to make more efforts to reduce bureaucracy. The business associations complain about a sharp increase in the bureaucratic burden, which is overwhelming medium-sized companies in particular. The President of the Federation of German Industries criticizes a profound mistrust of entrepreneurship and the disproportionate bureaucracy. Working hours and costs for reports and formalities have increased, while the economy is suffering under the burden of the rules.

The demands to reduce bureaucracy are having a profound impact on the financial industry and the market as a whole. A reduced bureaucratic burden would allow companies to focus more resources on core activities and increase their efficiency. This could lead to an increase in productivity and competitiveness in the long term. In addition, reduced bureaucratic hurdles could increase companies' willingness to invest, as less time and money would have to be spent on meeting regulatory requirements.

However, it is important to note that reducing bureaucracy too quickly or carelessly could also bring risks. Some regulations are designed to protect consumers, workers and the environment and repealing them without proper scrutiny could have negative consequences. It is therefore crucial that careful analysis and planning is undertaken to understand and assess the impacts of such mining.

Overall, it shows that reducing bureaucracy could potentially have positive effects on the market and the financial sector. However, it is important that this is done in a balanced and careful manner to avoid negative consequences.