In the single largest overhaul to the nation's economy in living memory the Bundestag have today voted in favour of several measures created and supported by the DPD and Bundespräsident Jakob Weisel. Having lobbied in support of greater market freedom for much of his time in office, these reforms are being touted as the single greatest legislative achievement of the president's 6 years in office. Major cuts to government spending following the partial or full privatisation of education, health, and infrastructure have helped to fund cuts to income tax, corporate tax and luxury goods tax. The government have also channelled additional funding to the Ministry of Finance, in response to the regulatory cost of the ever-growing cryptocurrency market, and to the Ministry of Defence, ahead of the announcement of an expected defence modernisation project.
President Weisel addressed the media following the passage of the reforms:
Today's victory in the Bundestag represent a major stimulus to industry and private spending - the largest in a generation, perhaps longer. Myself and my colleagues in the DPD have long campaigned for a freer market with less government intervention. These reforms, while significant, are only the first in a series of reforms aimed at making Dundorf a major economic and military power in the region. We have acted on long-overdue calls to reduce government waste by cutting the budget by almost 10%. These cuts have been paid back to the people in the form of tax cuts to all but the highest of income earners. The full or partial privatisation of government assets, including power generators and airports, hospitals, schools, and the defence industry will stimulate investment, create greater market competition, and drive free enterprise and thought.
Voting on the reforms was hard-fought with each measure passing with a slim majority of 27 seats with the support of the DPD and coalition ally the AfD. The DPD, as expected, have already introduced a second round of reforms to the chamber for voting, this time aimed at reducing red-tape on defence industries, cracking down on trade union activity, and reducing the welfare state.