The founder and owner of Herrenknecht, a global leader in tunnel boring machine manufacturing, has voiced his perspective on Germany’s current economic challenges, suggesting adjustments to taxation and regulatory burdens. In an interview with “Süddeutsche Zeitung”, Martin Herrenknecht, 83, indicated a willingness to contribute financially to alleviate the strain on lower-income households. He expressed support for a potential increase in taxes for higher earners, provided that the resulting revenue is directly allocated to benefit those with lower incomes and avoids being absorbed by inefficiencies within the social welfare system.
Herrenknecht also proposed a policy incentive for increased labor hours, suggesting the possibility of tax exemptions for five hours of overtime per week as a means of boosting productivity and stimulating economic activity. He argued that such a measure would benefit both employees and companies.
Beyond fiscal policy, Herrenknecht highlighted perceived obstacles to German competitiveness, specifically citing excessive bureaucracy as a significant hindrance to business development. Comparing the time required to establish a logistics center in India (approximately six months) versus Germany (three years), he emphasized the disproportionate amount of time spent navigating complex regulations and bureaucratic processes, including detailed assessments of ecological considerations.
The entrepreneur, who founded the company near Lahr in Southern Baden fifty years ago and has grown it to employ around 5,500 people, reaffirmed his commitment to remaining active within the organization. He remarked on the continued value of experienced leadership, drawing a parallel to the ongoing respect accorded to experienced cowboys.
