Before a summit meeting of the governing coalition on the rise in consumer prices, Finance Minister Christian Lindner promised the people of Germany that they would face a long phase of deprivation.

"My concern is that we could have a very worrying situation in a few weeks and months," said the FDP politician on Tuesday evening on ZDF television.

It's about three to four, maybe five years of scarcity.

"There is a risk of a very serious economic crisis due to the sharp rise in energy prices, due to supply chain problems, due to inflation." The primary goal must now be to stop inflation.

"Not just because of the economy, but because many people also worry about being able to pay for life."

The coalition committee of SPD, Greens and FDP meets on Wednesday.

Possible measures in the fight against price increases for energy and food will be discussed in the coming weeks.

A press briefing afterwards was initially not planned.

Taxpayers Association warns

The coalition committee is also to prepare the "concerted action" announced by Chancellor Olaf Scholz.

On July 4th, top representatives of employees and employers will discuss how to get the price development under control.

Russia has been pumping significantly less gas to Germany for a few days – according to the Federal Network Agency, the supply situation is therefore tense and prices have risen.

Food has also become significantly more expensive in the almost four months since the start of the Russian attack on Ukraine.

The German trade union federation called for the basic income tax allowance to be increased to at least 12,800 euros.

"In such a time of crisis, wage policy alone cannot be burdened with preventing losses in purchasing power and cushioning social hardship," said DGB boss Yasmin Fahimi of the Funke media group.

She also called for a price cap for “basic needs” for electricity and gas.

Federal Minister of Social Affairs Hubertus Heil warned that the state cannot compensate for everything for everyone.

"Basically, I don't see any scope to relieve people who have a very high income," said the SPD politician to "Stern".

However, he is open to talking about targeted relief for lower and normal incomes.

"We have to cushion the consequences of the price development specifically for the people for whom it really is an existential threat."

The deputy leader of the CDU, Andreas Jung, proposed a joint “strength” by the federal, state and local governments.

Public buildings should be a role model.

From now on, strict savings must be made on cooling, heating and lighting there - "from the Chancellery in Berlin to the town hall around the corner," he told the "Neue Osnabrücker Zeitung".

That's where "something really comes together".

The taxpayers' association and the federal association of medium-sized businesses warned the coalition against suspending the debt brake again in the coming year.

It is not just any political symbol, but an expression of fair coexistence between the generations and a sustainable budgetary policy, said Reiner Holznagel, President of the Taxpayers' Association, of the Funke media group.

He called for the coalition to reduce superfluous, ineffective and climate-damaging subsidies and spending as agreed.