Federal government wants to privatize highways
The Federal Government plans to privatize the motorway network to a large extent. As the "Spiegel" reported, Finance Minister Wolfgang Schäuble (CDU) this week in the budget committee for the establishment of an infrastructure company. It is to take over the construction and operation of the German motorways.
According to "Spiegel", Schäuble wants to involve private investors in the company. The privatization of Telekom and Swiss Post in the 1990s was a positive example. But the majority of society must remain with the Confederation.
constitutional change necessary
A prerequisite for privatization is a change in the basic legislation. The government has already drafted a draft bill, according to the "Spiegel" report. The new law is therefore intended to amend Article 90, in such a way that the Confederation will autonomously manage the motorways in the future. So far, the Federation and the Länder have shared this task.
The reform envisages the option to sell up to 49.9 per cent of the company to private investors. This would be countered by the banking and insurance industry, which is struggling for better access to infrastructure projects. Due to the low interest rates, the financial institutions are looking for a secure return.
Georg Hermes, the Frankfurt constitutional lawyer, described the plans as a "creeping privatization" of the "long distance road network". Sven-Christian Kindler, the budgetary speaker of the Greens in the Bundestag, criticized: "Schäuble wants banks and insurance companies to make a billion-dollar gift".
According to the "Spiegel", the reform will be introduced into the Cabinet on 8 December. Since the federal states must also agree, the Federal Chancellery is currently negotiating with the heads of the state chancelleries.
According to "Spiegel", Schäuble wants to involve private investors in the company. The privatization of Telekom and Swiss Post in the 1990s was a positive example. But the majority of society must remain with the Confederation.
constitutional change necessary
A prerequisite for privatization is a change in the basic legislation. The government has already drafted a draft bill, according to the "Spiegel" report. The new law is therefore intended to amend Article 90, in such a way that the Confederation will autonomously manage the motorways in the future. So far, the Federation and the Länder have shared this task.
The reform envisages the option to sell up to 49.9 per cent of the company to private investors. This would be countered by the banking and insurance industry, which is struggling for better access to infrastructure projects. Due to the low interest rates, the financial institutions are looking for a secure return.
Who is paying?
In the end, the user of the infrastructure could pay in the end. According to the "Spiegel", the motorway company is to finance itself from revenue from truck tolls. And the toll on passenger cars, which had already been believed to be dead, could also play an important role.Georg Hermes, the Frankfurt constitutional lawyer, described the plans as a "creeping privatization" of the "long distance road network". Sven-Christian Kindler, the budgetary speaker of the Greens in the Bundestag, criticized: "Schäuble wants banks and insurance companies to make a billion-dollar gift".
According to the "Spiegel", the reform will be introduced into the Cabinet on 8 December. Since the federal states must also agree, the Federal Chancellery is currently negotiating with the heads of the state chancelleries.
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