The Development Plan clearly distinguishes between  4  BIS central bankers’ speeches  investment that generates immediate financial returns such as in airports, power stations and toll roads and those projects where financial returns are far less measurable such as in schools and hospitals.
In terms of labour costs as well, there are no grounds in Germany for a deflationary spiral – in other words, a general and long lasting price slump combined with self-perpetuating recessionary pressure. This year’s pay round has more than exhausted the real scope for income distribution.