Jörg Kukies, Germany’s new finance minister, is wasting no time in making his mark. Although he’s been in office for less than a month, the SPD politician has big plans for the country’s economic future.
In a recent interview, Kukies introduced the idea of a wealth tax, suggesting that it’s something Germany should seriously consider to fund public needs. However, he also cautioned that any tax hike could impact businesses, urging a balanced approach.
Kukies’ stance contrasts sharply with that of his predecessor, Christian Lindner of the FDP, who was known for advocating for cautious fiscal policies, including the “black zero” approach, which prioritized budgetary balance. Kukies, however, argues that now is not the time for austerity. “We cannot afford an economic brake and restrictive fiscal policy in the current situation,” he stated.
Kukies has also put the brakes on the previous government’s reform agenda, expressing doubts that the planned private pension reform can be passed before the next federal election, citing low chances of getting it through the Bundestag and Bundesrat in time.
Despite the political challenges, Kukies is committed to significant changes, including the push for climate neutrality in both Germany and Europe, a policy that he and French counterparts have already started working on. His appointment as finance minister came after Lindner’s dismissal, and his previous roles under Chancellor Olaf Scholz give him strong connections within the government. However, his role in the Wirecard scandal, where he pushed for a government bailout of the fraudulent company, continues to cast a shadow over his career.
