US News German companies are afraid of left-back: Ifo-boss
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(Bloomberg) - a red-green-red government after the general election would be the result what German companies feared most. Of this IFO President Clemens Fuest is convinced, he said Bloomberg TV in an interview.
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A coalition from SPD, Greens and Left could trigger international uncertainty about German foreign policy, increase tax burden and lead to an interventionist climate policy, said Fuest in the interview on Friday.
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The IFO business climate indicator today marked a 5-month deep, burdened by stubborn delivery bottlenecks that retreated production in manufacturing in Germany.
"One topic is important, whether we have a left majority, ie a majority of social democrats, green and extreme left. That would probably lead to a link coalition, and in this case it would give a significant left-wing shift, which causes the economy to worry. If there is no such a majority, then it could take control, but no matter what government comes out, if it is a moderate government, then there will be no major volatility in economic policy, that means the result does not play such a major role. The real difference is between a link coalition including the extreme left and the rest. " - IFO President Clemens Fuest
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Neither the SPD nor the Greens conclude a partnership with the left so far explicitly. According to an analysis of Bloomberg Economics, a left alliance would lead to higher tax revenues, as all planning to increase taxes for low-income households and large assets. At the same time, expenditure would probably increase significantly and the debt brake would probably be history.
The introduction of an asset tax would "significantly burden investments in Germany and lead to capital outflows," so fuest. "It is not clear that she would come, but there are concerns about tax burden."
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The German continuous dispute over the Tempolimit .
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