The potential reinstatement of Germany’s asset tax or an increase in inheritance tax is prompting a re-evaluation of long-term investment strategies by prominent German companies, according to Maximilian Viessmann, CEO of the Viessmann Group. In a recent interview with “Handelsblatt”, Viessmann cautioned that the prospect of such measures could jeopardize future domestic investments, following the company’s recent sale of its heating and heat pump business to US-listed Carrier for a multi-billion euro windfall.
Viessmann’s warning underscores a growing anxiety within the German business community regarding the nation’s economic trajectory. He highlighted concerns over Germany’s stagnant growth, the ongoing geopolitical instability in Europe and the gradual erosion of the country’s export-driven economic model. “We haven’t grown for four years” Viessmann stated, “and there’s a looming risk of years of stagnation.
The CEO’s statements are a pointed critique of the political climate, suggesting that the current discussion surrounding wealth taxes – often proposed as a means of addressing income inequality – could have unintended consequences for investment and job creation. His threat to reconsider domestic investment plans represents a significant challenge to policymakers striving to balance social needs with the requirements of a robust business environment.
Beyond the immediate fiscal concerns, Viessmann emphasized the need for a broader “positive narrative” to restore confidence in Germany’s future. He singled out the lack of consensus on even defining the core challenges facing the nation as a significant impediment to progress. While acknowledging the necessity of enhancing Germany’s technological relevance, Viessmann argued that bolstering digital sovereignty – particularly in areas of critical infrastructure and defense – could unlock economic opportunities and serve as a foundational element for a renewed success story. His comments reflect a growing call within German industry for a more proactive and strategically optimistic approach to navigating the nation’s complex economic and geopolitical realities.
