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Germany鈥檚 government has formally adopted the country鈥檚 draft budget for 2025 and amended the 2024 budget, which had become a difficult task after a court ruling in late 2023 declared billions of euros earmarked for climate and transformation projects as unlawfully booked. The new budget worth about 480 billion euros 鈥渨ill adhere to our constitutional rules and to European fiscal rules,鈥� finance minister Christian Lindner said at the budget鈥檚 presentation, newspaper Die Zeit听. The formal presentation of the government鈥檚 internal agreement comes after a first release of the plans, in which the cabinet of chancellor Olaf Scholz said the agreement included 鈥渞ecord鈥� investments in climate and transformation efforts, a claim that observers immediately questioned.

Germany鈥檚 constitutional court in November last year said the government鈥檚 Climate and Transformation Fund (CTF) that rededicated unused funds originally reserved to respond to the coronavirus pandemic failed to adhere to the country鈥檚 limit on new government borrowing, as the CTF did not deal with a sudden and unexpected national crisis, but was rather a long-term policy project. Lindner said the new budget would comply with the so-called 鈥榙ebt brake鈥�, but did not specify how the government plans to cover an expected funding gap of about eight billion euros in securing new credits in line with the constitutional debt ceiling. The draft budget has been passed by parliament鈥檚 budget committee and a final decision on the funding plans is due only in November.听

听the finance ministry (BMF), Germany鈥檚 ongoing economic slump will make higher expenses for social support necessary while simultaneously slashing tax earnings. Energy system costs would require 鈥渟ignificantly higher鈥� remuneration to grid operators in 2024. Support payments to renewable power installation operators within the CTF framework would amount to 10.3 billion euros, also because earnings from the EU鈥檚 Emissions Trading System (ETS) are lower than expected, the BMF added.

Economy and climate action minister Robert Habeck听听the government鈥檚 draft included a 鈥済rowth initiative鈥� that would increase the country鈥檚 pace of economic recovery through reduced bureaucracy, integrating more people in the labour market and incentives for private investments, all while continuing with fast renewables expansion. 鈥淭he package can deliver a strong growth impulse,鈥� and provide the country with 鈥渟tability and a perspective under difficult framework conditions,鈥� Habeck argued.听鈥淭here will be no hard austerity measures,鈥� he stressed.听The minister added that the government鈥檚 forthcoming Power Plant Strategy would complement efforts in renewables expansion 鈥渢o secure our electricity supply after exiting fossil energies.鈥�

Energy policy think tank Agora Energiewende said the draft budget had avoided an answer to the key question of how future investments in the Climate and Transformation Fund can be put on a new and legally sound footing. 鈥淚t lacks a clear signal to companies and citizens that necessary investments will be made,鈥� which included renewable power, grid modernisation, climate neutral industry facilities, a reliable railway service and affordable housing. 鈥淭he most precious resources for achieving the climate targets are trust and acceptance 鈥� and these could be damaged greatly if this is delayed further,鈥� commented Agora鈥檚 industry policy expert Julia Metz. She called for a cross-party initiative that settles the funding question long term and avoids future battles over the legality of funding climate and transformation projects.听Environmental NGO Nabu also criticised the lack of clarity regarding the CTF鈥檚 future, which could jeopardise the transformation in the industry and mobility sectors. However, 鈥渢he good news is that cuts to climate and environmental protection are limited,鈥� said Nabu head J枚rg-Andreas Kr眉ger. However, investments in restoring ecosystems should still be increased to better adapt the country to global warming and reduce the impact of extreme weather events.听听

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