BERLIN (Dow Jones) – Yasmin Fahimi, Chairwoman of the German Trade Union Confederation (DGB), is concerned about Germany as a location. “German competitiveness is definitely at stake,” she said in an interview with FOCUS. At the moment, one has the impression that some secretly do not find de-industrialization so bad because we could then achieve our climate goals more quickly. But that is dangerous, Germany must continue to claim technological leadership and show that climate-neutral production is possible. That’s why Fahimi has little understanding that the government wants to continue to hold on to the debt brake despite the crisis. “As a result, investments that would be extremely important for the transformation of the German economy – and which the federal government promised at the beginning of the year – are being left behind.”
Fahimi defends the unions’ demand for higher wages: “If wages rise, we have more purchasing power and slow down the recession.” Therefore, concerns about a wage-price spiral are unfounded. However, not only would wages have to rise, the rich would also have to bear a heavier burden: “Anyone who accumulates a large fortune in the crisis has to contribute more to the costs for the common good,” she said. In addition, the wealth tax should be reintroduced, as well as a one-off wealth levy.
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(END) Dow Jones Newswires
October 15, 2022 07:19 ET (11:19 GMT)