"Saxony Fund 2050" - SPD presents investment strategy

10 billion euros - in the eyes of the SPD, this is the amount of investment required in Saxony over the next few years. The Social Democrats therefore want to set up a special fund, a so-called "Saxony Fund 2025", as lead candidate and Social Affairs Minister Petra Köpping said in Dresden on Thursday. This is necessary as a long-term investment strategy to give companies and municipalities planning security.

Investing in schools, hospitals and a climate-friendly economy

The money will be used to modernize and renovate schools and hospitals and to promote the climate-neutral modernization of the economy. Investments in care and affordable housing are also planned.

The SPD is seeking a reform of the debt brake as "Plan A" for financing. However, this would require an amendment to the Basic Law and the Saxon constitution. As this is not just around the corner, they have a "Plan B", said Dirk Panter, chairman and finance spokesman for the SPD parliamentary group. This should raise at least five billion euros over the next five years.

Stretch out the repayment of coronavirus loans

The plan is to stretch out the repayment of coronavirus loans over a generation, which would make an additional 1.5 billion euros available over the next five years, according to the party. A further 3.5 billion is to be freed up through lower allocations to the civil servants' pension fund, which are to be invested more sustainably.

The SPD's investment strategy also includes the establishment of a state investment company, as presented by Economics Minister Martin Dulig two weeks earlier. This is intended to promote the conversion of the energy supply to climate neutrality through profitable investments, including in the heating network and electricity grids.