Berlin, September 6 (FinanceFlashNews) – Germany urgently needs an annual stimulus program worth €20 billion to address the country’s housing shortage, according to the construction workers’ union IG BAU and the national tenants’ association DMB. The two organizations issued a joint appeal, emphasizing the need for significant investment in social and affordable housing to combat the dramatic housing shortage and revitalize the weakened economy, according to a report from DPA.
IG BAU’s chairman, Robert Feiger, stated that just constructing 100,000 social housing units annually would require €13 billion, with €10 billion needing to come from the federal government. Both organizations argue that Germany must implement a housing support program immediately, not just include it in future election promises.
The proposal also suggests funding the program by enhancing efforts to combat tax evasion, which costs the public sector an estimated €30 to €50 billion annually, according to the Federal Audit Office.
Keywords: Germany, housing shortage, IG BAU, DMB, social housing, stimulus program, tax evasion
