Merkel’s CDU: It’s all about being social

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This article is sourced from the CDU’s website.

The Christian Democratic Union of Germany (CDU) go into this election led by German Chancellor, Angela Merkel.

Economic framework: The “social market economy

The CDU calls for the “renewal of the Social Market Economy.

So, whilst free trade and globalisation is necessary, it’s important for the state to support the economy, ensuring it works for everyone.  It sees this as the best economic model for ensuring peace, prosperity and security. Competition is also a key principle. Note the striking similarities here to the language in the founding charter of the EU.

Domestic

The CDU want tax cuts of around $15bn. They also want to slowly eliminate the “solidarity surcharge.” This was a tax brought in to help East Germany, which was less economically developed, catch up with West after reunification.

Meanwhile, there’s a pledge to work with countries on the EU’s borders to reduce immigration.

Then there’s the longer term goal of reducing state subsidies to business and selling off state owned firms.

And promises not to reintroduce the wealth tax nor up inheritance tax are also included.

EU/Eurozone

The CDU reaffirm their commitment to the EU, calling themselves the Union’sanchor of stability.

And they’ll strengthen the Euro through creating a European Monetary Fund. This would essentially be a Eurozone IMF, rescuing Eurozone members, and preventing another debt crisis.

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