{"id":300136,"date":"2024-02-06T18:20:45","date_gmt":"2024-02-06T17:20:45","guid":{"rendered":"https:\/\/climatescience.press\/?p=300136"},"modified":"2024-02-06T18:20:47","modified_gmt":"2024-02-06T17:20:47","slug":"olaf-scholzs-energy-policies-branded-toxic-by-german-business-chief","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=300136","title":{"rendered":"Olaf Scholz\u2019s energy policies branded \u2018toxic\u2019 by German business chief"},"content":{"rendered":"\n
\"\"
Chancellor Olaf Scholz<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

Siegfried Russwurm says government\u2019s climate agenda is \u2018more dogmatic than any other country I know\u2019.<\/em><\/strong><\/p>\n\n\n\n

The leader of Germany\u2019s main industry association has slammed the German government\u2019s energy policies as \u201cabsolutely toxic\u201d, in a sign of declining business confidence in chancellor Olaf Scholz\u2019s stewardship of the economy.<\/p>\n\n\n\n

Siegfried Russwurm, head of the BDI, told the Financial Times that Germany\u2019s climate agenda was \u201cmore dogmatic than any other country I know\u201d. The \u00a0Financial Times<\/a> has the story.<\/p>\n\n\n\n

The country\u2019s decision to phase out nuclear energy and coal and switch to renewables was placing businesses in Europe\u2019s largest economy at a disadvantage to those in other industrialised nations, he said.<\/p>\n\n\n\n

\u201cNobody can say with any certainty today what our energy supply will look like in seven years\u2019 time, and that\u2019s why no one can say how high energy prices will be in Germany then,\u201d he said. \u201cFor companies that have to make investment decisions, that is absolutely toxic.\u201d<\/p>\n\n\n\n

His comments come at a time of growing concern about the outlook for Germany, which was the world\u2019s worst-performing major economy last year, according to the IMF. The country has been plagued by high interest rates, low export demand and high energy prices triggered by Russia\u2019s invasion of Ukraine in 2022.<\/p>\n\n\n\n

Germany\u2019s gross domestic product shrank 0.3 per cent last year and exports fell 4.6 per cent in December, a sharper decline than economists had expected. The OECD said on Monday that Germany\u2019s economy would expand by just 1.1 per cent in 2024, a much lower rate than the OECD average of 3 per cent.<\/p>\n\n\n\n

Germany has also seen nationwide rail strikes and widespread protests by farmers angry at cuts to agricultural subsidies, while industrial action by Lufthansa ground crews on Wednesday was set to cause severe disruption to air travel. <\/p>\n\n\n\n

Meanwhile, the three parties in Scholz\u2019s fractious coalition \u2014 Social Democrats, Greens and Free Democrats \u2014 argue openly over how to kick-start economic growth.<\/p>\n\n\n\n

\u201cIndicators of political uncertainty in Germany show that it is as high now as it was in the UK during Brexit,\u201d said Clemens Fuest, head of the Ifo Institute, a leading think-tank.\u00a0<\/p>\n\n\n\n

One reason, he said, was the bombshell ruling by Germany\u2019s constitutional court in November that upset the government\u2019s spending plans by striking down its use of off-budget funds. The judgment forced Scholz and his ministers to make huge savings in their 2024 budget, a revised version of which only passed on Friday last week. One of the measures is a sharp increase in transmission grid fees which it is feared will drive up businesses\u2019 energy bills.<\/p>\n\n\n\n

But there were other reasons for the febrile mood that were more deep-seated, Fuest added. \u201cIt has to do with the fact we have a government with no real economic strategy,\u201d he said. \u201cThere is complete disagreement between the economy and finance ministries and that\u2009.\u2009.\u2009.\u2009presents risks to the economy, both in the short and long-term.\u201d   <\/p>\n\n\n\n

Read the full story \u00a0here<\/a>.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The leader of Germany\u2019s main industry association has slammed the German government\u2019s energy policies as \u201cabsolutely toxic\u201d, in a sign of declining business confidence in chancellor Olaf Scholz\u2019s stewardship of the economy.<\/p>\n","protected":false},"author":121246920,"featured_media":300145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"The leader of Germany\u2019s main industry association has slammed the German government\u2019s energy policies as \u201cabsolutely toxic\u201d, in a sign of declining business confidence in chancellor Olaf Scholz\u2019s stewardship of the economy.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819432,691818197,691826774,691826776,691819094,691826773,691826775],"class_list":["post-300136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-energy-policies","tag-german-government","tag-head-of-the-bdi","tag-protests-by-farmers","tag-renewable-green-energy","tag-siegfried-russwurm","tag-toxic-investment-decisions","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1g4U","jetpack-related-posts":[{"id":300073,"url":"https:\/\/climatescience.press\/?p=300073","url_meta":{"origin":300136,"position":0},"title":"German 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