Berlin (Reuters) – continue to engage citizens and large investors such as insurance companies to the state for ideas of a government commission in the rehabilitation of ailing highways, bridges and schools under the arms.
The set of Economics Minister Sigmar Gabriel experts examined including a “citizen Fund”, over which small investors could participate in construction, reported the “Welt am Sonntag”. For institutional investors, municipal construction projects across community boundaries should be bundled in PPP funds. Federal Transport Minister Alexander Dobrindt also confirmed considerations, to convert the highways in a state-owned company, which could draw on private funding.
The committee of experts appointed by Gabriel intends to submit its report in late April. Purpose is to identify new ways of investment backlog – can be resolved – with the help of private donors. According to earlier calculations of a fede ral-state lacks the Commission annually at least 7.2 billion euros for the maintenance of roads. This leads to closures such as the Rhine bridge at Leverkusen or countless potholes.
The Infrastructure Commission is considering, inter alia, the question of how insurance companies could easily invest in construction projects. Because of the low interest rates they are desperately looking for lucrative investments for their clients funds but come up against bureaucratic and regulatory hurdles. There is not yet enough public-private partnerships (PPPs), which are tailored to institutional investors. Such PPP projects are controversial, because the government can borrow very cheaply because of low interest rates. Among other things, the Federal Court had criticized the PPP is often more expensive.
This objection Dobrindt held in the “Welt am Sonntag” contrary to, PPP projects are economic: “The road is more readily available, the build quality high, more congestion to avoid the economic loss caused by too.” The proposal of State Highway company was currently being discussed with Finance Minister Wolfgang Schäuble. “We are at the beginning of our considerations,” Dobrindt said. But the Highway is not a project for small savers. But they benefited, for example, if their life insurance investing there.
WANTED THE “jack of all trades”
In other projects, but I will certainly think of citizen participation, the newspaper reported, citing internal texts of Gabriel Commission. The goal are models to increase investment without jeopardizing compliance with the debt ceiling by the federal government and the states. Will search for a “penny!”, It is therefore hot in a presentation of the Ministry.
The insurer Allianz has already announced plans to stand by for multi-billion dollar investments in crumbling bridges and new wind farms at sea. [ID: nL6N0RV3G5] [ID: nL6N0OD35S] [ID: nL6N0OE2U9]. Previously, the Group invests primarily in foreign infrastructure such as Belgium. There so-called project bonds are placed for motorway construction.
Whether the involvement of private investors, compared with only solid buildings from the state expects, however, is still controversial in the Gabriel Commission. “There is a danger of creating a debt outside of the budget,” warned the economy Lars field. The trade unions are skeptical. The paper said they warn beneficiaries of PPP funds are the owners of life insurance. The interest on the fund investors could, but bear all taxpayers.
© Thomson Reuters 2015 All rights reserved.
No comments:
Post a Comment