The German parliament’s budget committee has approved revised 2026 spending plans that include even higher debts than originally thought, lawmakers said Friday, as the government gears up for an investment splurge.

Chancellor Friedrich Merz and his coalition partners also agreed further measures late Thursday aimed at helping Europe’s struggling top economy, chief among them a reduction in industrial power prices.

“A strong Germany needs a strong economy and secure, well-paid jobs,” said Merz, as he announced the policies.

Merz has made reviving the eurozone’s traditional powerhouse a priority after two years of recession, relaxing strict debt rules to pave the way for a spending blitz on infrastructure and defence.

Late Thursday the budget committee approved the draft spending plans f

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