"Tumble off My Seat" - Jan van Aken Talks About His Rheinmetall Shares
Van Aken discusses his stake in Rheinmetall, a German defense company.
By Hubertus Volmer, reporting from Chemnitz
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The chairman of the Left party, Jan van Aken, isn't trying to be seen as a financial advisor. But the mere 150 euros he invested in two Rheinmetall shares eight years ago have seen some considerable growth since then.
Recently at the party conference in Chemnitz, van Aken revealed that he intends to stir some trouble at the upcoming shareholders' meeting for the arms manufacturing company, Rheinmetall.
In a fiery speech to the more than 500 attendees, van Aken disclosed that he had "purchased two Rheinmetall shares eight long years ago." The Left leader made it clear that it wasn't an investment: "You need shares if you want to voice some smart remarks at a shareholders’ meeting or cause a little mischief," he said.
"For now, we’ll hold onto these shares, and we'll certainly attend the next meeting, and you might just hear from us then," van Aken added.
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In the same speech, the party chairman underscored that armament companies thrive on the federal government's defense policy plans. He also called for a windfall tax. "I double-checked the figures yesterday, and I about tumbled off my chair," van Aken exclaimed. "We’ve made over 3,200 euros with these crummy shares that cost 180 euros at the time. It's sickening that people rake in millions in profits from others' conflicts and misery. That's why we demand a windfall tax for companies like Rheinmetall."
Similarly, the Left parliamentary group leader, Sören Pellmann, shared his views in his speech. In regard to the constitutional amendment for the debt brake, he said, "History has never seen such an arms build-up before." The faction has been "a steadfast deterrent against arms build-up and militarization" in the Bundestag.
"Arms build-up takes precedence over social security," van Aken reproached the new federal government. He deemed the reform of the debt brake to allocate more funds for defense an "outrageous scandal." During the initial coalition talks, Merz had already announced cuts in the social sector. "They haven’t got a clue what's going on down here," van Aken said of the coalition of the Union and SPD.
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Several times during his speech, van Aken contrasted a "we" against "the wealthy and powerful, who trample on us and steal our money." This attitude aligns with the Left's new self-perception as a party fighting for the interests of the many - in the Left's perspective, those who are not wealthy. "The boundary doesn't run between someone with or without a German passport," van Aken stated, "the boundary always runs between rich and poor. It doesn’t run between the poor and the very poor, nor between cow and oat milk drinkers, the boundary always only runs between rich and poor."
Recent Developments at the Left Party's Congress in Chemnitz
Heidi Reichinnek and Ines Schwerdtner, the faction and party leaders, respectively, were quoted at the party congress in Chemnitz. The main emphasis in the guiding motion that was passed primarily covered how the Left plans to train its burgeoning membership. Moreover, the topic of war and peace was discussed and passed. It became evident that a minority of the delegates do not hold as firm a stance on the issue of armament as the leaders of the faction and party.
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For instance, a delegate from Hesse pointed out that she witnesses in some parts of the party "a stubborn clinging to beliefs that are increasingly divorced from reality." This is particularly true regarding matters related to war and peace. "In the face of the Russian attack on Ukraine, repeated calls for rearmament are being ignored," she stated.
This position is clearly in the minority within the Left. In the resolution passed by the delegates, it states: "By promoting the idea that Russia could soon invade NATO territory, fears are intentionally stirred up." Moreover, "the alleged struggle between autocracy and democracy" is "an easily discernible propaganda tool to suggest the necessity of massive rearmament to the populace."
Sources: ntv.de
- Left Politics
- German Defense Policies
- Friedrich Merz
- Chemnitz
- Party Congress
Additional Enrichment Data
In the realm of politics, criticism of arms manufacturers is not unusual, with concerns typically focusing on the profit motive of these companies. Jan van Aken's personal investment in Rheinmetall shares, while significant for the politician, might have minimal bearing on the broader discussions surrounding the company and defense policies.
The windfall tax is a fiscal policy tool used by governments to extract additional revenues in times of market turbulence or windfall gains. It is aimed at limiting the financial burden on ordinary citizens, while generating much-needed funds for the government. The feasibility and fairness of a windfall tax on defense companies remain subjects of debate.
In the context of the Left party, their stance on arms manufacturers and defense policies generally emphasizes reduced military spending and pro-peace advocacy. They often criticize the defense industry's role in society and the potential influence it wields. These views align with their priorities of social security, peace, and climate justice.
- Jan van Aken, the chairman of the Left party, revealed his intention to voice concerns at the upcoming shareholders' meeting of arms manufacturing company Rheinmetall, due to his personal investment in two Rheinmetall shares eight years ago.
- The Left party, known for their focus on social security, peace, and climate justice, has been critical of the federal government's defense policies, arguing that they contribute to the profit of companies like Rheinmetall.
- Van Aken called for a windfall tax on companies like Rheinmetall, stating that it is unjust to permit such companies to rake in millions in profits from their role in conflicts and misery.
- In their guiding motion passed during the party congress, the Left party emphasized their plan to invest in training their growing membership, with a focus on vocational training, which could be seen as an effort to equip their members with the skills needed to influence politics and drive change in policy areas such as employment and defense.
