Klingbeil at Maischberger: How the Finance Minister intends to pay off the gigantic debts

Federal Finance Minister Lars Klingbeil is digging deep into the state coffers for the 2025 federal budget. Germany's debt is at an all-time high. The minister explains how he intends to get rid of the debt on Sandra Maischberger's show. It's clear: he's relying on hope.

Germany should return "to its former strength." This is what Chancellor Friedrich Merz promised in his government statement this afternoon. Finance Minister and Vice Chancellor Lars Klingbeil of the SPD is expected to help him achieve this. Klingbeil has just presented the new budget for this year to the cabinet. He plans to incur 850 billion euros in new debt over the next few years. Here's what it looks like: 850,000,000,000. That amount of money in 100-euro notes would weigh as much as 120 million people, i.e., all the inhabitants of one and a half Germanys. The money is added to the debt that Germany already has. Klingbeil has this sum at his disposal because the federal government has relaxed the debt brake. How this debt, which will then be accompanied by interest of up to 61.9 billion euros per year, will be repaid is still unclear. To answer this question, presenter Sandra Maischberger invited the Federal Finance Minister to her talk show.

"It was important to me that something had to change, that we had to move forward," he explained the federal government's gigantic budget. "We agreed, before we formed this government, that we would make changes to the Basic Law. That, on the one hand, we would say: €500 billion in special funds to make this country stronger again with investments in education, daycare centers, and infrastructure. And secondly, we said: We will also change this Basic Law so that we can invest much more in security. Now some people are frightened that we are doing what we said. But that also means more debt, and debt means repaying interest." The federal government is now beginning to repay the additional debt it incurred during the coronavirus pandemic. And the rest will also be paid off.

All subject to financing

"But how?" asks presenter Maischberger. Klingbeil: "By focusing on getting back on track for economic growth, and there are now slight indicators that we're back on a path of economic growth. And we must implement structural reforms. We must look at how we transform the country economically. And we consolidate. For me, these three things are part of it." Commissions should be formed to work out how, for example, the nursing sector can be made more efficient and how savings can be made there, said Klingbeil.

But Maischberger wants to know what would happen if the economy didn't grow. "I've always made it clear that, of course, everything is subject to funding," said Klingbeil. The main focus is on economic growth. The indicators are pointing upwards, Klingbeil reiterates, although he is aware of the unpredictability of US President Donald Trump, for example, in tariff policy. "I know we're far from finished, but it must be our common task in this government to set all the course for growth and job security. And we've done that with the initial measures," said Klingbeil.

Maternity pension is coming - or not

His advisor, Jens Südekum, had previously criticized the "CSU's babies." These include the sales tax cut for the restaurant industry and the mothers' pension. "Is the mothers' pension coming now?" the moderator asked three times. "If the financial framework is there, then we'll do it," Klingbeil finally replied. "Now we're watching very closely how the financial leeway develops. But this is very important to Markus Söder, and I promised him that I would try everything to make sure we get the mothers' pension done."

Even though this budget appears to be anything but austerity, savings will still be made. Klingbeil and his cabinet colleagues agreed on this. "We're reducing staff, we're cutting administrative resources, and we've also gone into some areas where I think it's wrong: For example, when we cut development cooperation. But that's also part of the coalition agreement. And it's my role as Finance Minister to implement it."

The SPD's "Manifesto"

"In Europe, forces have prevailed that seek the future primarily through a strategy of military confrontation and hundreds of billions of euros in rearmament." This is stated in the "manifesto" of several politicians from the left wing of the SPD. Klingbeil says he doesn't feel addressed. "This manifesto presents a contradiction that I don't see at all when it comes to military strength and diplomacy." In recent years, Chancellor Olaf Scholz has repeatedly spoken about peace in Ukraine, both in China and with Russian President Vladimir Putin. "I've always thought it was right that he did that. I've always said: use every diplomatic channel. But it was always clear to me: we support Ukraine. They are being attacked, and we are helping them defend themselves because they are also defending our values. For me, that was never a contradiction. And that's why I don't feel addressed by it."

One must acknowledge the realities, said Klingbeil. The reality is that there has been a war of aggression in Europe for three years. Two hours away from Berlin. "As a German politician, I would like to be able to stand before my own people at any time and say: I am doing everything I can to ensure that we can live safely here and that Putin is not in a position to attack us. The language Putin understands is the language of strength. Investments must be made in this, not because I think it's great." Klingbeil is in favor of diplomatic activities. "But, and this must be made clear: Putin is the one who doesn't want talks. Putin is the one who doesn't want peace. Everyone who writes such a manifesto should recognize this: There is someone who can end this war, and that is Vladimir Putin. And he isn't."