If the mood is gone, sometimes the personal conversation helps. That is what Peter Altmaier thought before he began his journey to family businesses, craft enterprises and world market leaders in rural areas.
And there are enough to clarify. The "Bossed Bosses" had come up with an industrial strategy in which value for money in Germany was practically neglected. Business associations were bothered by their minister of economics, also because the CDU politician was missing at EU Council of Ministers meetings. Even Fraunhofer CEO Reimund Neugebauer criticized him.
Prior to his trip through Lower Saxony, North Rhine-Westphalia and Saxony-Anhalt, Altmaier emphasized the importance of SMEs and promised to relieve the burden on companies. In Hanover, he presented the cornerstones of a long-awaited SME strategy. The middle class is far more than just an economic factor, but a "central factor of social cohesion" in Germany, said Altmaier.
More flexible working hours and less bureaucracy
He spoke of a commitment to middle class. Altmaier said he wanted to create a new dynamic and new optimism. It's about how companies can stay competitive.
The Minister specifically spoke in favor of less bureaucracy and more flexible working hours. He reaffirmed demands for a complete eradication of the law and a comprehensive corporate tax reform. Taxation on corporate profits should be limited to 25 percent.
In addition, Altmaier demands a tax cover, which stipulates the tax burden on private companies at a maximum of 45 percent. Social contributions should be kept below 40% in the long term. The high reserves in the unemployment insurance should be used for a contribution reduction.
In his industrial strategy, Altmaier also advocated supporting relevant large companies, if necessary, with state help, in order to secure jobs in Germany - to the annoyance of small and medium-sized enterprises. In view of increasing competition on world markets, especially from China, he wanted to create more "national champions". Only a few days later, Altmaier declared the bankruptcy of the Germania airline to be a "case of market economy".
The cornerstones now presented initially met with a more positive echo in the economy. Eric Schweitzer, president of the Association of German Chambers of Industry and Commerce (DIHK), said the initiatives presented came at the right time. "Instead of further additional burdens, companies now need economic rationality, which means less bureaucracy, less taxes, more digitization and more reliability in economic policy." After all, the economy is cooling off noticeably.