Merkel chal­lenger calls for pub­lic in­vest­ment

Kuwait Times - - BUSINESS -

Ger­many should be le­gally bound to in­vest in in­fra­struc­ture, the cen­tre-left chal­lenger to Chan­cel­lor An­gela Merkel at Septem­ber elec­tions said yes­ter­day. Ber­lin “must use its money to im­prove pub­lic in­fra­struc­ture ac­cord­ing to bind­ing rules,” So­cial Demo­cratic Party (SPD) can­di­date Martin Schulz said at a cam­paign event in the Ger­man cap­i­tal. Schulz did not call for the lift­ing of the “debt brake” built into the Ger­man con­sti­tu­tion by Merkel’s con­ser­va­tive gov­ern­ment in 2009, which sets le­gal lim­its on deficits in fed­eral and re­gional bud­gets. Ber­lin has booked bud­get sur­pluses in re­cent years and re­duced its debt lev­els un­der fi­nance min­is­ter Wolf­gang Schaeu­ble. Ger­man pub­lic spend­ing is a hot topic at home and abroad.

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