Germany plans 65 bln euro inflation-busting package
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Petrol prices are displayed at a bft petrol station one day before the fuel discount in Germany expires after a temporary reduction of the energy tax to the minimum level set by the EU came to an end in Bonn, Germany, August 31, 2022. REUTERS/Benjamin Westhoff
Germany will spend 65 billion euros ($64.7 billion) on its third package designed to shield consumers and businesses from the impact of soaring inflation, the government said in a document issued on Sunday.
The measures, which includes proposals for an extension to discounted public transport and 1.7 billion euros in tax breaks for 9,000 energy-intensive companies, was agreed by the three parties in Chancellor Olaf Scholz's governing coalition on Sunday.
"This is the biggest of the three packages so far," Scholz told a news conference.
($1 = 1.0049 euros)
Source - The Business Standard
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