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Minister of Economy Altmaier has in Berlin report defended government aid to the economy affected by the Corona crisis. They are necessary to save jobs. In the long term, the state has to stay on the sidelines.
In view of the discussion on state aid for companies in the crown crisis, the Federal Minister for the Economy, Peter Altmaier, has reaffirmed the position of the Federal Government not to interfere in the long term in the interest of companies. “The state has to stay on the sidelines and will stay on the sidelines,” the minister said Berlin report. Interference would never have worked in the past. He described the billions in public sector aid as approved. In the short term, it was important to avoid losing many jobs.
Altmaier’s statements are in the context of negotiations with Lufthansa on aid worth billions. While SPD politicians are more in favor of state influence at Lufthansa, Union representatives want the policy to remain largely outside of the airline’s operating business.
Altmaier said negotiations are currently underway with the five responsible federal ministries on a “concrete model.” “There are several ways to protect the interests of the taxpayer.” He agreed with Federal Finance Minister Olaf Scholz that there could be no company bonuses and dividend payments in the event of state aid. “We hope that the administration helps, also financially,” said Altmaier.
“Successful in protecting jobs”
The minister also made clear that the government would not tolerate any illegal practice in deciding to help companies financially. An analysis of the left faction in the Bundestag recently showed that the 30 DAX companies still have investments and subsidiaries in tax havens, including Lufthansa.
At the same time, Altmaier criticized the timing of the investigation. “It is strange that such discussions come now when it comes to the future prosperity of Germany.” In the specific case of Lufthansa, he warned of premature conclusions: “I am strictly against speculation with unsubstantiated claims.”
Altmaier believes that Germany is on the right track to save jobs. Looking at the United States, for example, where millions of new unemployed are currently registering, it is very successful in protecting jobs. “This is our guide for the future,” stressed the minister. “We cannot prevent companies from cutting jobs, but we have created everything that is not necessary.”
Investment subsidies for the production of protective masks
The Federal Government is also interested in guaranteeing the health and safety of people in the event of pandemics. That is why the decision was made to invest in subsidies, such as the production of protective masks and protective clothing. It is not about subsidies. “We do not force or instruct anyone to produce them in Germany,” said Altmaier. But people want to grant subsidies for machines that could also produce long-term at low cost in the Federal Republic: “state-of-the-art machines”.
