Suche
Hamburg's financial strength: Huge investments despite increasing criticism!
Despite debts, Hamburg is investing in the subway, culture and the Olympics. Financial strength and a sense of responsibility are the focus.
Hamburg's financial strength: Huge investments despite increasing criticism!
Hamburg is well on its way to achieving its fiscal goals and is using its economic strength more intelligently than many other cities, such as Welt reports. With a debt burden of around 22 billion euros, the Hanseatic city can be seen as somewhat more developed compared to Berlin, which is around 67 billion euros in debt. This solid financial position enables Hamburg to invest in important projects such as the subway lines, cultural initiatives and the bid for the Olympic Games.
Finance Senator Dr. Andreas Dressel recently pointed out that the city was able to reduce its debt by almost 650 million euros last year. These steps towards responsible consolidation are the result of stable tax revenues, which reached a record of 3.2 billion euros from trade tax and 10.7 billion euros from wage and income taxes in 2024. According to Dressel, the course of investing and consolidating remains a priority in the coming years.
Risks and challenges
Despite the positive developments, there are critical voices. Sascha Mummenhoff from the Taxpayers' Association in Hamburg points out that some projects such as the opera in HafenCity and the German Harbor Museum are risky. The Court of Auditors has also already identified structural weaknesses, such as a lack of economic viability studies in the U5 project. Hamburg's investment policy is also being questioned by social associations. Klaus Wicher from the German Social Association calls for targeted measures against poverty and family allowances because he considers the existing priorities to be wrong.
Hamburg's options in financial policy have also improved due to the reduction in interest charges as a result of the repayment of Corona debt. This creates financial scope for investments in schools and infrastructure, which are urgently needed.
Nationwide relief program
However, the challenges are not just limited to Hamburg. A bill has been introduced at the federal level that is intended to support municipalities with excessive debt. The Federal Minister of Finance Dr. Jörg Kukies has announced that the federal government would like to provide affected municipalities with one-off support in solving their old debt problems in order to enable investments in schools, kindergartens and local public transport. This legal change could open up the possibility for the federal government to share in the debt relief measures, which is particularly important for city states like Hamburg.
Overall, it shows that Hamburg is setting the course for positive development through the combination of solid financial policy and necessary investments in infrastructure and social projects - but not without challenges and criticism that must be taken seriously.