German Elections: Parties' Financial Policies Outline
As Germany's federal elections approach on February 23rd, potential financial policy changes loom. Here's how the leading parties aim to reshape finance:
CDU/CSU
* Establish Germany as a European finance powerhouse, enhancing competitiveness with London and Paris.
* Preserve the three-pillar banking system while fostering capital market development.
* Support venture capital and startup growth through tax incentives.
* Combat money laundering and financial crime with a stronger customs police.
* Promote payment method diversity and support a digital euro with added value.
* Reduce inheritance and home purchase taxes, opposing a wealth tax.
AfD
* Advocate for Germany's exit from the euro currency bloc.
* Propose a gold-backed Deutsche mark and gold repatriation.
* Deregulate Bitcoin and digital asset trading extensively.
* Reject the digital euro and constitutionally protect cash as legal tender.
* Eliminate the deposit guarantee scheme and inheritance tax.
* Increase tax-free amounts for dividends, interest, and capital gains.
SPD
* Introduce a financial transaction tax on stock purchases and sales.
* Impose taxes on the super rich, aligning with G20 commitments.
* Reintroduce the wealth tax and adjust inheritance taxes for multi-million and billion-euro assets.
* Reiterate the need for the super-rich to contribute more to the common good.
GREENS
* Limit inheritance tax exemptions and implement a global billionaire's tax.
* Establish a service center to combat cryptocurrency misuse in financial crime prevention.
* Enhance the company transparency register to prevent money laundering.
* Drive sustainable finance regulation and invest public funds accordingly.
* Delegate greenwashing protection to BaFin and establish clear standards for sustainable investments.