German businesses and consumers are feeling the pain from sky-high energy prices, as Europe's biggest economy seeks to extricate itself from reliance from Russian supplies in the wake of Moscow's invasion of Ukraine.
Among the headline measures are one-off payments to millions of vulnerable pensioners and a plan to skim off energy firms' windfall profits. But preventative measures, including a drive to reduce consumption, have done little to break a sharp increase in household bills.The latest announcement follows two previous relief packages totalling 30 billion euros, which included a reduction in the tax on petrol and a popular heavily subsidised public transport ticket.
The take-off in energy prices is expected to push inflation in Germany to around 10 percent by the end of the year, its highest rate in decades.Some energy companies which may not be using gas to generate electricity were"simply using the fact that the high price of gas determines the price of electricity and are therefore making a lot of money," he said.
The move could potentially bring"double-digit billions" of euros in relief, finance minister Christian Lindner estimated in the press conference. Scholz said he expected the EU to"deal quickly" with the issue, adding that it was"very clear that we need rapid changes in this area".Repeating his mantra that Germans will"never walk alone" through the energy crisis, the chancellor unveiled a raft of measures, including a one-off payment of 300 euros to millions of pensioners to help them cover rising power bills.
Agrees? Don’t you mean approves?
I have always hated Bitcoin and thought it was a scam until a friend referred me to Allison_Grillo, I made my first withdrawal of R100,000 in 2 weeks thanks to Allison_Grillo.
You could make so much from the real estate investment if you would like to know me or your interested +1 (438) 802‑2225 that’s my number