Supercharge Schleswig-Holstein: The Audit Office's Advice for Optimizing Investments and Growth
Government should leverage loans for financial investments - Auditors' Court Report: Utilization of Loans for Investment on Land Properties
Got some inspired thoughts from Gaby Schäfer, Schleswig-Holstein's State Audit Office President. She's all about maximizin' investment opportunities for our beloved state, surpassin' the status quo, and strengthenin' our financial and economic game. Check it out!
"Y'all need to use those new loan options for more than just livin' expenses," she said. "That extra dough—around 800 million euros per year—should go straight to helpin' our state flourish." More on that in a sec.
First things first: Current Budget Crisis
The numbers ain't lookin' too groovy: tax revenues could be 600 million euros lighter by '29 compared to autumn '24 predictions, and the budget gap is set to grow to about 1.2 billion euros by the same year. But don't be in a tizzy, 'cause more credit funds could be on the horizon, close to 800 million euros annually, thanks to the debt brake's ease. The feds even pledged 290 million euros yearly support to us!
So, what does the future hold? Most likely, states won't be usin' that cash to fill gaps in their budgets. Instead, they'll invest it in state and municipal infrastructure to create much-needed growth impulses for our economy. Cheers to that!
But how can we step up our game and really make a splash? The State Audit Office has some ideas!
Audit Office's Strategy for Schleswig-Holstein's Growth
- Gauge Current Budget and Resources
- Budget reassessment: Identify opportunities to optimize or reallocate current budget allocations to boost growth.
- Credit fund assessment: Determine the extent of available additional credit funds for investments.
- Elevate Investment Priorities
- High-impact projects: Prioritize initiatives with the potential to create significant economic returns, such as infrastructure development, small business support, or edu-innovations.
- Digi-boost: Foster digital infrastructure to fortify our businesses and public services, leaning on cost-effective open-source solutions if ya got 'em.
- Go for Efficient and Frugal Solutions
- Open-source tech: Reduce reliance on fancy, pricey proprietary systems—go open-source!
- Local biz buy-in: Partner with local businesses and startups to generate new ideas and job opportunities.
- Encourage Private-Sector Engagement
- Public-Private Partnerships (PPPs): Collaborate with private companies to tackle major infrastructure proj-ehs, and keep our public purse in check.
- Investor incentives: Woo private investors with tax breaks, subsidies, and other rewards, for alignin' with state strategic priorities.
- Monitor Progress and Adjust according
- Progress metrics: Establish clear measures to track the success of investments and growth strategies.
- Regular evaluation: Revisit progress regularly and adjust strategies when needed to ensure maxi-mum economic benefits.
By implementin' these strategies, we can make the most outta our budget and loan money, actu-ally grow our economy, and remain fiscally responsible—all while keepin' up with the wider national and regional goals. Let's do this, Schleswig-Holstein! 💪💪💪🌟🌟🌟
- The State Audit Office suggests using the additional credit funds, approximately 800 million euros yearly, not just for filling budget gaps but also for investing in high-impact projects such as infrastructure development, small business support, or edu-innovations.
- To optimize investments, the Audit Office recommends prioritizing efficient and frugal solutions by reducing reliance on high-priced proprietary systems, partnering with local businesses for new ideas and job opportunities, and leveraging open-source technology.
