Dhe Bochum finance and economist Martin Werding is to become a new member of the Advisory Council for the evaluation of total economic growth. He was nominated on Thursday by the Confederation of German Employers’ Associations (BDA) to succeed the retiring council member Volker Wieland. Born in the Rhineland in 1964, he has been a professor of social coverage and public finance at the Ruhr College in Bochum since 2008. In a stalemate over the appointment of council members, there is now motion.
Historically, one in all the 5 locations on the physique, which works on behalf of the federal authorities, is stuffed at the suggestion of the employer and the commerce union. Since Wieland, Professor of Financial Economics in Frankfurt, had been nominated by the employers in 2013, it was now up to the BDA to discover a successor for him. Werding has already gained some expertise as a political marketing consultant in recent times. For instance, he ready long-term projections on the sustainability of public funds with the Ifo Institute on behalf of the Federal Ministry of Finance.
For the time being, nonetheless, it stays unclear who will succeed Freiburg economist Lars Feld in the Council of Consultants. Feld had been a member of the council since 2011 at the authorities’s suggestion, however in spring 2021 he was denied a 3rd time period underneath the black-red authorities coalition. The background to this was party-political conflicts about the orientation of the physique.
Solely three present economic strategies
Since then, his place has been vacant, and solely three of what used to be 5 “wise males” are left: the economists Veronika Grimm and Monika Schnitzer (at the suggestion of the authorities) and Achim Truger (at the suggestion of the unions). The employers’ proposal for personnel could also be an indication that the site visitors mild authorities will quickly make progress with clarifying the discipline’s successor.
In recent times, Werding has additionally headed a welfare state fee arrange earlier than the BDA and introduced a complete report with it in 2020. He ought to present how social spending will be stabilized in order that social safety contributions don’t rise above 40 % of gross wages. Linking the retirement age to life expectancy performed a key function on this.
Employer President Rainer Dulger praised Werding on Thursday as an economist whose experience is past query. “We mix our proposal with the expectation {that a} joint effort will achieve making the German Council of Economic Consultants a widely known and customarily accepted physique for political recommendation,” defined Dulger. Wieland surprisingly introduced his withdrawal from the council in April.
