Thanks for joining me. A top German industry chief has despaired that Olaf Scholz’s net zero policies are “absolutely toxic” in a stinging criticism of the chancellor’s stewardship of Europe’s largest economy.
Siegfried Russwurm, head of the BDI, said his country’s climate agenda is “more dogmatic than any other country I know”.
He warned that Germany was being placed at a disadvantage because of the government’s phasing out of nuclear energy and switching to renewables from coal and gas.
“Nobody can say with any certainty today what our energy supply will look like in seven years’ time, and that’s why no one can say how high energy prices will be in Germany then,” he told the Financial Times.
“For companies that have to make investment decisions, that is absolutely toxic.”
The comments come as Mr Scholz’s leadership faces scrutiny after official figures showed Germany’s economy shrank by 0.3pc last year, while the OECD said its gross domestic product would expand by just 1.1pc in 2024.
Protests by farmers last month…