Germany rejects boost to Intel chip plant subsidies

 


Intel announced last year that it would invest 17 billion euros to build a chip factory in Magdeburg, eastern Germany. It is known as the largest foreign investment plan in Germany after the war. It will help Germany improve its semiconductor competitiveness and allow the global chip market share to reach 20% by 2030. , doubling the current market share of less than 10%.


The German government promised to provide a subsidy of 6.8 billion euros for this investment, but Intel recently expressed that it hopes the German government can increase the subsidy amount to 10 billion U.S. dollars as energy and construction costs rise. conflict.


Scholz and Economics Minister Habeck both believe that the US "Chip Act" proposes a budget of US$52 billion to subsidize semiconductor manufacturing. If the German government does not try its best to meet Intel's requirements, it will be difficult to attract funds to the German semiconductor industry.


But officials led by Lindner questioned that the German government's subsidy for Intel's factory construction was a waste of taxpayer money. The Liberal Democratic Party led by Lindner is relatively small in the ruling coalition, but insists on strict control of finances. He said in a recent interview: "The government has no spare budget to increase subsidies. We should try to reduce the budget instead of increasing it."


In order to implement fiscal policy, Lindner opposes the expansion of bond issuance and tax increases, which has caused the German government to face financial difficulties. He previously said that next year's government budget will be short of 20 billion euros, sparking a debate within the ruling coalition, and now Intel's request for more subsidies has put the German government in a dilemma.


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