The head of The Left party, Ines Schwerdtner, harshly criticized Federal Chancellor Friedrich Merz (CDU) for shelving the proposal of a “super-profit tax” on mineral oil corporations. Speaking to the “Rheinische Post”, she argued that by rejecting the excessive profit tax, the Chancellor is further sparing the oil conglomerates instead of recouping funds that could be used to relieve consumers. Schwerdtner stressed that given the severe budgetary situation the government faces, money should be collected precisely where billions in extra profits are being generated due to the war.
Schwerdtner further asserted that when oil corporations take advantage of a crisis to inflate prices and profits, the state is obligated to intervene. She demanded that “super-profits” accrued during the crisis must be seized to provide relief for those suffering under rising prices. She stated that profit margins should be limited and targeted relief provided to small and medium-income earners, arguing that the public should not be forced to bear the financial burden of a crisis while the oil companies reap enormous benefits.
This move by the Chancellor came after he had again disapproved of a super-profit tax proposal put forward by the SPD on Tuesday. Merz explained that he currently saw neither sufficient factual nor legal grounds to impose taxes on what he termed “super-profits.”
