Bundestag: Planned reform for financing the Autobahn GmbH controversial

There is a high need for investment in motorways. The federal government wants to break new ground. What that means – and why there is criticism.

Berlin. Federal Transport Minister Steffen Bilger sees great opportunities for long-term financing of motorways in Germany through a reform. Anyone who builds infrastructure for decades should not just think about the next budget, said the CDU politician in the Bundestag. The financing of the federal highway company should therefore be placed on a new basis. This would allow projects to be planned, financed and implemented more reliably.

“The need for investment is and remains high,” emphasized Bilger. "Bridges have to be replaced, roadways have to be renewed, bottlenecks have to be eliminated. Such projects need one thing above all: reliability."

The Bundestag discussed a federal government bill for the first time. Accordingly, the federal Autobahn GmbH should be able to take out loans from 2027. In addition, it should receive income from the truck toll from 2028.

In the future, Autobahn GmbH's financing will be based on three pillars: budget resources, user financing and private capital. The motorway should have “limited credit”. From 2027 onwards it should be able to take out loans and issue bonds. The limitation refers to the fact that the borrowed capital may only be used for investments and planning services.

According to the Federal Audit Office, the draft budget for 2027 provides funds totaling around 10.3 billion euros for Autobahn GmbH.

Broad criticism from the opposition

AfD MP Stefan Henze warned against shifting debts and risks to a federally owned company. The draft law does not provide for an upper limit for Autobahn GmbH's debt. There should also be less parliamentary control. Henze spoke of another shadow household.

Left-wing MP Jorrit Bosch called the federal government's plans expensive and risky. The federal government wants to send Autobahn GmbH to the bank, even though no one can borrow money more cheaply than the federal government. “Private financing doesn’t make our infrastructure cheaper, it makes it more expensive.” The Federal Audit Office also warns against the plans.

In the future, Autobahn GmbH should be able to borrow from the federal government “without security” for investments, according to a report to the budget committee. Only her proportionate income from the truck toll would be available to her for interest and repayment. The draft law does not represent the debt-bearing capacity of Autobahn GmbH or its expected indebtedness over time. There is also no regulation as to the amount of loans the company is allowed to take out.

The report states that Autobahn GmbH could provide additional funds for transport investments in the short to medium term by raising outside capital. In the long term, however, repayments and interest payments limited the financial scope. It is not apparent that credit-financed investments significantly increased Autobahn GmbH's income potential. Important questions remained unanswered, including those regarding parliamentary control. Conclusion of the Federal Audit Office: The draft law is “not ready for decision”.