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22 Nov, 2022 11:03

German living standards could collapse – government politician

EU’s biggest economy could soon become “CO2-neutral, but poor,” according to Henning Höne
German living standards could collapse – government politician

Germany's economic prosperity is in jeopardy due to a “complete failure” of the government’s energy policy, the head of the Free Democratic Party’s (FDP) parliamentary group in the Landtag of North Rhine-Westphalia, Henning Höne has said.

He told newspaper Die Welt on Monday that the country’s living standards could drop to the level of 1970. “In the face of a completely imploding energy transition, we have to ask ourselves: In ten years, will there still be someone who will produce here and sell their product internationally? We must answer that,” Höne said.

The MP urged people “to realize the seriousness of the situation,” noting that a number of companies, from Lanxess to BASF, say they are ready to invest anywhere but Germany. “Our small and medium-sized businesses are also under pressure. Many observers warn that our country may soon become CO2-neutral, but poor,” Höne added.

The politician believes that due to arrogance and absolute complacency in Germany, these risks are ignored.

“We have been deprived of all sources of energy except Russian gas – and that is blocked. The situation in North Rhine-Westphalia, the most energy-intensive region in Germany, is especially dramatic due to energy prices. The German business model is under strong pressure,” Höne explained.

At the same time, he clarified that he's not calling for a suspension of the energy transition, but would like the government to temporarily use all available domestic energy sources.

According to Höne, he would like Germany to remain an industrial country and a place for production.

For more stories on economy & finance visit RT's business section

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