The chairman of the “Young Group” within the parliamentary group of the CDU/CSU has cautioned against the consequences of the planned new borrowing, particularly for young people. Pascal Reddig, a member of the Bundestag, expressed these concerns to the Frankfurter Allgemeine Zeitung in Wednesday’s edition.
Reddig stated that the high level of new debt represents a significant burden on the younger generation. While acknowledging the necessity of investment in areas such as defense and infrastructure to revitalize Germany’s economic trajectory, he emphasized the “Young Group’s” commitment to ensuring responsible spending.
He stressed that investment should prioritize future growth through infrastructure development rather than increased social expenditures. Regarding the proposed establishment act for the €500 billion infrastructure and climate protection special fund, Reddig indicated reservations.
According to Reddig, the current draft of the establishment act falls short of the necessary criteria. He argues that the legislation provides excessive room for interpretation and lacks clear guidelines. He advocated for specific definitions of infrastructure investments, encompassing areas like roads, railways, future technologies, digitalization and energy infrastructure, while explicitly excluding other potential uses of the funds. In its current form, Reddig believes the establishment act is not yet viable for approval.
