1/8/2009

Bavaria’s Economics Minister Zeil comments on the labor market figures for December 2008

In employment policy terms, the Minister expects 2009 to be a difficult year. It was a matter of pulling out all the stops to keep the imminent job losses as low as possible. The Bavarian State Government had already taken appropriate steps on State level by adopting an economic package in November. The Minister welcomed the fact that the Grand Coalition in Berlin now also intended to follow suit on the necessary scale. He wants the package to focus on three key areas.

Zeil: "First of all, the people and the business community must get tens of billions in tax cuts. Secondly, more funds must be provided for public-sector investments already in the pipeline. And thirdly, obstacles blocking private investment have to be removed. In view of the gravity of the crisis, it is now important not to go for half-measures. But once the economy has stabilized, the public authorities must immediately return to their policy of consolidation."

Source: Invest in Bavaria