Urgent Call for Action: Business Associations Demand Swift Economic Signals from New Minister

The newly appointed Federal Minister of Economics, Katherina Reiche, faces significant challenges as business associations express strong expectations for immediate reform initiatives. Leaders from various economic sectors are urging her to seize a pivotal role within the new coalition government.

Peter Adrian, President of the German Chamber of Commerce and Industry, emphasized the necessity for revitalization in the German economy, which has experienced stagnation for three consecutive years. He stated that the ministry must act decisively to restore economic momentum.

Marie-Christine Ostermann, President of the Family Entrepreneurs Association, remarked on the substantial responsibilities that lie ahead for Reiche. She noted that despite the ministry's reduced scope due to the transfer of climate-related responsibilities to the Ministry of the Environment, Reiche is expected to make impactful decisions. Ostermann affirmed the association's anticipation for a committed push towards the promised economic transition.

As Reiche prepares to succeed Robert Habeck from the Green Party, she steps into a role that has seen its authority diminished. The former Bundestag member and current head of energy provider Westenergie will need to navigate a landscape characterized by high energy costs, significant taxation, bureaucratic hurdles, labor shortages, and protracted planning and approval processes.

In this context, Rainer Dulger, President of the Employers' Association, expressed confidence in Reiche's qualifications. He highlighted her dual perspective as both a business leader and a political figure, suggesting that her background could be advantageous in enacting necessary changes.

Business leaders have articulated their demand for structural reforms, particularly in reducing bureaucratic obstacles that hinder investment. Ostermann underscored the need for prompt action on this front, labeling bureaucracy as the primary barrier to business growth.

Adrian reiterated the urgency for the new government to deliver tangible results swiftly, particularly in terms of reducing bureaucratic burdens, reforming tax structures, and expediting planning and approval processes. Tanja Gönner, Chief Executive of the Federation of German Industries, echoed this sentiment, calling for concrete reform measures from day one of the new administration.

Stefan Körzell, a board member of the German Trade Union Confederation, urged the government to prioritize the stabilization of the economy and job security, emphasizing the need for reduced electricity prices. He highlighted the promised reductions in electricity tax and the capping of network charges as crucial items on Reiche's agenda.