Lars Klingbeil to become Germany’s vice chancellor and finance minister, Social Democratic Party says

The Social Democratic Party (SPD) has announced that Lars Klingbeil will become Germany's next finance minister and vice chancellor in the incoming centrist coalition government. Klingbeil, a 47-year-old SPD veteran, will replace Joerg Kukies in the finance ministry and assume the vice chancellor position. According to SPD general secretary Matthias Miersch, Klingbeil was tasked with taking on the vice-chancellorship and entering the new government as federal finance minister. Klingbeil will also be responsible for setting up the SPD's remaining team to serve under the new coalition by early next week. Although Klingbeil does not have extensive experience in the fiscal domain, he has a strong background in politics. He has served as one of the party's two co-leaders since 2021 and was elected as chief of the SPD parliamentary faction in early 2025. Klingbeil has also previously worked in constituency offices for members of parliament, including then-chancellor Gerhard Schroeder, and was a deputy leader of the SPD's youth organization. Klingbeil's appointment comes as Germany prepares to form a new government, with the SPD set to join forces with the Greens and the liberal Free Democratic Party (FDP) in a centrist coalition. The move is seen as a key step in stabilizing the country's government and implementing policy changes.