German Parliament approved biggest spending package in the history of the country. The legislation in this regard was passed on Tuesday in the lower house of Parliament with 512 votes out of a total of 733. The legislation proposed by conservative Chancellor- in - waiting Friedrich Merz was also backed by the Social Democrats and the Greens.The legislation in the next stage will head to a vote on Friday at the Budesrat for approval where Germany's 16 Federal States are represented.
The legislation is a major step towards unlocking hundreds of billions of euros in debt financing for defence and infrastructure and heralding the end of decades of budget austirity.
The legislation is a major step towards unlocking hundreds of billions of euros in debt financing for defence and infrastructure and heralding the end of decades of budget austirity.