Growth Opportunities Act from Finance Minister Lindner: DIHK fears for clout, calls for more money for climate protection

The German Chamber of Commerce and Industry (DIHK) is concerned about the effects of Finance Minister Christian Lindner's Growth Opportunities Act. The law, which includes tax changes and reductions in bureaucracy, is intended to relieve the German economy of an average of seven billion euros per year. DIHK General Manager Martin Wansleben praised the goals of the law, but criticized changes and restrictions during the political deliberations. In particular, he criticized the fact that losses should be credited less to the benefit of companies when determining the tax burden.

According to Wansleben, the planned bonus for investments in climate protection should be provided with more than the previously planned 400 million euros in order to also benefit small and medium-sized companies. The DIHK also advocates for electricity partnerships between renewable energy operators and electricity consumers. The bill includes further tax measures to promote housing construction and stimulate the economy.

The federal government lowered its economic forecast in October and now expects economic output to decline by 0.4 percent. The Growth Opportunities Act is intended to help mitigate the negative effects. The Federal Council still has to approve the law, but some states have already expressed criticism because they should bear a large part of the shortfall in tax revenue. The German Association of Cities also expresses concerns about possible tax losses for municipalities.

According to a report by www.volksstimme.de,

A public hearing on the Growth Opportunities Act is planned in the Finance Committee at the beginning of the week.