The fiscal and economic policy of the Federal Government - reform agenda for Germany

The federal minister of finance, Peer Steinbrück, delivered the keynote address at the 58th Annual Meeting of the Ifo Institute. In his presentation, "The Fiscal and Economic Policy of the Federal Government - Reform Agenda for Germany", he discussed the success and deficits of previous reform measures. Above all he criticised that "that an optimistic attitude is generally lacking among the elites in Germany". Steinbrück emphasised the government's intention to use the additional tax revenues to reduce the debt: "The current, positive development gives us the historical opportunity, for the first time in 40 years, to break the vicious circle of saddling our children with an increasing burden of debt." His conclusion: "We don't need an overfed state but an agile state, a state that lays down the rules for fair competition - also together with our international partners - and a state that with its adequate finances has scope for future-oriented policy action."