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Merkel’s party nods coalition’s policy

Published: 26/10/2009 05:00

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German Chancellor Angela Merkel’s party, the Christian Democratic Union (CDU), on Monday approved the policy platform of the new coalition government for the next four years.

German Chancellor and head of the conservative Christian Democratic Union (CDU) Angela Merkel delivers a speech as CDU members vote during the CDU party meeting in Berlin October 26, 2009. Several senior figures in Angela Merkel’s conservative party on Monday attacked her new coalition deal with the Free Democrats (FDP) as being too timid to give Europe’s biggest economy the boost it needs.(Xinhua/Reuters Photo)

CDU delegates from across Germany held a convention in Berlin and gave a “yes” to the tax cuts worth 24 billion euros (around 36billion U.S. dollars), the outstanding part of the policy platform, which is more than 15 billion euros Merkel herself had pledged before the Sept. 27 general election.

Merkel made the concession on tax cuts due to the demands from the Free Democrats (FDP), the CDU’s partner in the new coalition government.

Speaking to the convention, Merkel said that spending is necessary to pull Germany out of its worst recession in modern history, justifying her government’s focus on tax cuts to generate economic growth.

The FDP had approved the policy platform earlier on Sunday, while the Christian Social Union, Merkel’s Bavarian ally, had also approved it at a meeting in Munich.

“we’ve decided to go down a road that relies fully on growth,” Merkel said.

“There’s no guarantee that it’s going to work, but it has a chance. I don’t see any chance that we’ll succeed if all we do is save, save, save,” she stressed.

Under the coalition agreement reached earlier on Saturday, Merkel keeps control of the coffers away from the FDP, who advocated more aggressive tax cuts than the chancellor.

The coalition’s tax-cut plan split the difference between Merkel’s 15-billion-euro target and the FDP’s 35-billion-euro campaign pledge.

The negotiations between the CDU and the FDP, conducted over the past three weeks, were dominated by attempts to balance government spending with debt that’s set to soar to a post World War II record.

Wolfgang Schaeuble, the finance minister-designate, said on Sunday in an interview with Welt am Sonntag newspaper that there’s no way he’ll be able to balance the budget over the four-year legislative term.

As Germany, the biggest economy of the European Union (EU), is struggling to recover from recession, it is “naturally” impossible to eliminate the deficit during Merkel’s second term, said Schaeuble. “It certainly doesn’t make sense to talk about savings measures at a time when the economy needs an impulse,” he added. (1 U.S. dollar = 0.6667 euros).

VietNamNet/Xinhuanet

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