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Competitive conditions for the steel industry
Economic policy describes political measures undertaken within an economy for regulating and structuring the scope of action for the various participants. National economic policy has four central aims: a higher level of employment, stable prices, economic growth and foreign trade equilibrium – achieved by means of regulatory and process policy measures.
Economic policy – the big picture
Industry is the engine of the german economy and – with its innovative power, competitiveness and export strength – makes a decisive contribution towards Germany’s economic success. As a central business sector, the steel industry is affected by economic as well as industrial policy measures introduced by the government and the EU. With about 4 million jobs in steel-intensive industries, steel makes a major contribution towards the jobs situation in Germany. With its annual production of 45 million tonnes of crude steel, the steel industry in Germany is by far the most important supplier of materials for numerous key sectors, such as the automotive and electrical industries or machine construction. In close collaboration with its customers, the steel industry in Germany creates the basis for technical progress, for example in the area of climate protection.
Germany’s economic growth after the economic and financial crises can also be principally traced back to a closely networked industrial value-creation alliance. Political conditions that do not reduce industrial investment prospects are essential for safeguarding this growth in Germany and Europe in future. Such conditions, however, do not currently exist, particularly for energy-intensive industries in Germany. Thus, for example, competitive disadvantages on international markets are a result of the high energy costs associated with the Renewable Energies Act (EEG) or the purchase of CO2 certificates necessary within the framework of the EU emission rights trading system.