7 November. Berlin, Germany. Today, people in Germany are facing political uncertainty and the prospect of a snap-election after German Chancellor Olaf Scholz sacked finance minister Christian Lindner from the coalition government.
Scholz accused Lindner of focusing on the short-term interests of his own party, Free Democrats (FDP), ahead of the needs of the country at a time when energy bills are rising, infrastructure is crumbling, and public services are critically underfunded. Lindner has established a reputation for putting the super-rich first, seeking to cut taxes for the wealthiest and cut investment in vital services at home, while attempting to delay a global agreement to tax extreme wealth to fund climate solutions and tackle poverty at the G20.
Scholz is now expected to lead a minority government with his Social Democratic Party (SDP) and the Greens, the second-largest party. Until an election is held, between now and March, every piece of legislation will be contested in the Bundestag by an alliance of right wing parties emboldened by the result of the US election. Now is the time for the German government to take bold action that meets the needs of the people.
Kate Cahoon, Germany Team Lead at 350.org said:
“It’s nothing short of absurd that the German governing coalition has collapsed this week over the question of how to close a budget gap, in a country with one of the highest concentrations of wealth in the world. As of 2024, there are an unprecedented 132 billionaires in Germany. The super-rich hoard staggering wealth and fuel the climate crisis with their investments and lifestyles – globally, the richest 1% are responsible for more emissions than 66% of the planet’s population.
We’ve constantly heard from this government that there is not enough money to pay for strong climate action, to future-proof and invest in schools, hospitals, modern transport systems, and safe renewable energy. Yet German billionaires are sitting on a net worth of €592.5 billion in assets that they’ve gained by avoiding taxes and exploiting ordinary working people. They are benefiting from a broken economic system that politicians refuse to fix and people are demanding a change. Two thirds of Germans (62%) already support a wealth tax on assets over a million euros, and support for more progressive taxes on extreme wealth is growing.”
Decision-makers within the German government and leading Parties now have a choice: to double down on ‘business as usual’ policies that benefit the super-rich or commit to progressive, transformative policies like taxing extreme wealth to help tackle the climate crisis and meet the needs of the people.
Kate Cahoon, Germany Team Lead at 350.org continued:
“Supporting a global agreement at the G20 to tax extreme wealth, backed up by domestic measures to tax billionaires and oil giants at home, could levy hundreds of billions of euros every year for tackling poverty and the climate crisis. Right now, Germany has one of the highest levels of wealth inequality in Europe and people are wondering when so-called leaders will show actual leadership by taking concrete action to levy excessive wealth to meet their needs.
This year’s deadly fooding is another stark reminder that people in Germany, and around the world, are already living with the impacts of the climate crisis. The German government has an important role to play on the global stage to deliver policies and money that pave the way to a fairer, safer world powered by renewables in which communities can thrive. As governments head to the UN climate conference in Azerbaijan and the G20 Summit in Brazil, to decide on deals that must unlock trillions in finance to tackle climate and poverty, we cannot afford any more delays. We must push elected officials to force the super-rich to pay up, we must push governments to tax their billions.”
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Note to Editors
Media Contacts:
- Mark Raven, [email protected], +447841474125
- Kate Cahoon, [email protected] +4917663606503