SPD business paper calls for wealth tax and fuel price cap

Berlin. The SPD parliamentary group wants to sharpen its economic policy profile compared to its coalition partner Union with calls for a wealth tax, a reform of the inheritance tax and changes to spouse splitting.

This emerges from a 22-page economic paper entitled “Modernizing Germany – A new successful model for growth and prosperity”.

The text, which was available to the Reuters news agency, is to be approved by the parliamentary group on Tuesday.

The paper is not seen as a finished master plan, but as a “social democratic vision of the future”.

It contains numerous demands that go beyond the coalition agreement with the CDU and CSU.

“Very large fortunes must make a greater contribution to the common good,” the paper says.

Specifically, the SPD is calling for a reform of the inheritance tax for large asset transfers and the “reinstatement of the wealth tax”.

A wealth tax has not been agreed upon in the coalition and is rejected by the Union.

The paper also reiterates the call for a reform of spousal splitting in tax law in order to reduce disincentives for employment, especially for women.

There are also calls for a further increase in the minimum wage.

When it comes to migration policy, the parliamentary group demands a right to remain for all foreigners who are working or completing training: “Anyone who lends a hand in Germany is allowed to stay.”

In view of the sharp increase in fuel prices at gas stations, the parliamentary group supports the demand of the party as well as Finance Minister and SPD leader Lars Klingbeil for a price cap.

In view of the lack of competition from the SPD's perspective, a “margin-limiting fuel price cap” based on the example of Belgium and Luxembourg is proposed in order to limit the profits of the oil companies.

The SPD is drawing an explicit limit to further concessions to the Union in European car policy.

“We cannot allow the fleet limits to be further weakened beyond the coalition’s agreements,” the text says.

At the same time, the concept also contains economic policy approaches that overlap with the Union, such as faster planning and approval procedures and less bureaucracy for companies.

However, the SPD is placing greater emphasis on an active state that is supposed to participate as a strategic investor in critical infrastructure and specifically promote future industries.

In energy policy, the parliamentary group is committed to climate neutrality by 2045 and the expansion of renewable energies, rejects nuclear energy and is open to technologies for CO₂ capture and use.