German gov't leaders host parallel industry summits focused on improving economic prospects
Clean Energy Wire
German government leaders are hosting not one but two industry summits on Tuesday (29 October) as chancellor Olaf Scholz’s three-party coalition seeks to deal with the country’s economic woes. Looking to make industrial policy a top priority, the Social Democrat (SPD) chancellor has invited selected representatives of energy-intensive industries for a confidential meeting at the chancellery, where he is expected to propose further relief in terms of grid charges, Table.Media reports.
Industry representatives have complained that relatively high electricity prices in Germany puts the country at a significant disadvantage as a business location. Scholz’s summit will include leading representatives from the chemical, pharmaceutical, semiconductor, automotive and mechanical engineering industries.
Finance minister Christian Lindner of the business-friendly Free Democrats (FDP) will also host his own event, aimed primarily at small and medium-sized businesses.
Green Party economy minister Robert Habeck last week proposed his own vision for a ten percent state aid premium for industry investments to boost the struggling economy and ease the path to climate neutrality.
In contrast to many other major economies, Germany's is expected to stagnate this year, after a slight contraction in 2023. New proposals follow closely on the heels of other support measures. Earlier this month, 15 companies in were awarded support guarantees in the first round of the so-called ‘climate contracts.’
