Germany is not a nation of shareholders.

And that's bad.

Equities belong at least as an addition to every sensible capital investment, because they deliver far higher returns in the long term than savings accounts or money market accounts.

It is therefore high time that politicians removed some unnecessary obstacles to investing in shares.

The cornerstones now presented by Ministers Lindner and Buschmann for a future financing law are a step in the right direction.

So it was hard to see why income from long-term investments in stocks is fully taxable, while speculation in gold or real estate enjoys significant tax benefits.

Now there should be an allowance for share price gains.

The offsetting of losses should also be simplified.

So far, this has been unnecessarily complicated.

Employee shares are even particularly encouraged.

Here it is important to remember that a sensible capital investment should be more than a share in your own employer.

Lindner and Buschmann not only improve the incentives for investors in funds and shares.

They are also trying to lower the hurdles for companies to go public in Germany.

That is the great economic advantage of stocks: to provide young growth companies in particular with the necessary capital.

There is enough money for that.

If the framework conditions improve soon, this could promote innovations in companies, create jobs and thus increase prosperity in this country.