Economic policy change: Spahn calls for social security contributions to be capped

Economic policy change: Spahn calls for social security contributions to be capped

The CDU is still working diligently on its new basic program. Union parliamentary group vice-president Jens Spahn is now giving new insights into the direction of travel. He is calling for a cap on social security contributions and a “serious” reduction in bureaucracy. He also has something to say about migration policy.

Union parliamentary group vice-president Jens Spahn is in favor of an upper limit for social security contributions. He demands that social security contributions be capped at 40 percent. Similar to the debt brake, this should be anchored in the Basic Law in order to ensure a permanent net guarantee for salaries. Spahn argues that current social security contributions are hindering growth and putting a strain on both employees and employers.

Spahn also calls for relief from income tax. He is of the opinion that performance should be more worthwhile again and overtime should be tax-free. In addition, the top tax rate should only apply from an annual salary of 80,000 euros. It should be noted that Spahn's regulation only applies to top earners, of which there are around four million in Germany.

At the same time, Spahn is calling for a change in economic policy in Germany. He emphasizes that growth should be a priority and that electricity tax should be reduced and investments should be written off more quickly. He also advocates a serious reduction in bureaucracy.

With regard to migration policy, Spahn advocates a change of course. He calls for a break from uncontrolled asylum migration and emphasizes the importance of a clear signal at the EU's external border. He is of the opinion that with functioning border protection, Europe could accept and distribute around 300,000 to 500,000 refugees per year.

Jens Spahn's demands may have an impact on the market and the financial industry. A cap on social security contributions could relieve the burden on employees and employers and promote growth. A reduction in income tax for top earners could result in them having more money at their disposal and potentially investing or consuming it. Reducing bureaucracy could increase efficiency and promote business creation and growth. A change of course in migration policy could lead to a reduction in migration and improve the integration of asylum seekers already living in Germany. However, it remains to be seen whether and to what extent these demands will be implemented.

According to a report by www.n-tv.de