Economics Minister: relief package by mid-July

According to the new Minister of Economic Affairs, Katherina Reiche, the Federal Cabinet will launch an initial relief package for companies by mid-July. It will include a reduction in electricity tax and initial reforms to the labor market, said the CDU politician at the East German Economic Forum in Bad Saarow. "Further points will have to follow by the end of the year." She left details open.

Growth is the order of the day and the government will provide impetus, said Reiche. In addition to structural reforms of the labor market, she also mentioned corporate tax reform as key words.

"We will first decide on a so-called investment booster, significantly improve depreciation options and then move on to corporate tax reform in the second half of the legislative period," said the minister. If the plans from the coalition agreement were implemented, we would "actually get back into a trend reversal".

Quickly "secure power"

The former energy manager once again insisted on the expansion of "secure power" - meaning power plants that can reliably supply electricity even when the wind is not blowing or the sun is not shining. "Secure capacity can be gas, it doesn't just have to be a gas-fired power plant," she said. Speed is important because of the coal phase-out. With a view to climate protection, the government wants to drive forward the capture and separation of carbon dioxide. "We will also present a law on this very quickly," said Reiche.

With a view to the East, "pride and confidence"

The native of Brandenburg pointed out that East Germany had caught up economically in recent years. "In eight of the last ten years, the economy in eastern Germany has grown more strongly than in the old federal states," said Reiche.

The minister added that eastern Germany is attractive for investors. Unemployment is below the rate in Saarland or North Rhine-Westphalia and wages have risen. "When we look back today at what has been achieved, it at least fills me with pride and confidence," said Reiche.