A country is about to support gas money for workers, the highest is more than 1 million VND/month
In the context of rising gasoline prices affecting every household as well as Chancellor Olaf Scholz’s coalition government, Germany said it would consider launching a new bailout package to ease the burden on fuel prices. for workers.
“The cost of heating, electricity and fuel prices are extremely high, putting pressure on households, the lower the income group, the bigger the impact,” said German Economy Minister Robert Habeck.
This allowance can range from 20-50 euros (500,000 VND – 1.2 million) per month, in which, the lowest income groups will enjoy the maximum support. High-income households will not be included in this category.
Bloomberg reports that the initiative, if approved, could cost Germany 1 billion euros a month. The FDP’s top politician, Finance Minister Christian Lindner, had previously proposed lowering gas prices to support workers, but the idea was opposed by some members of the coalition.
“The proposal was shaken from the start and lost more and more support this week. Any bailout would include travel, but possibly in a more complicated fashion.” German Economy Minister Robert Habeck said.
Petrol prices in Europe soar
As of February this year, gasoline and diesel prices in Germany have skyrocketed because the country is largely dependent on gas imports from Russia. High fuel prices have raised concerns in German public opinion, while calling for a reduction in dependence on imported oil, consumer protection against rising prices and economic recovery after the pandemic. Even according to a recent Civey poll by WELT media, many people still support not using a car one day a week to reduce dependence on imported oil.
This puts further pressure on German Chancellor Scholz’s coalition, which is still debating whether to end the fixed import tax rate before 2023.
“The increase in gasoline prices will directly affect consumers and companies will have to pay more when importing raw materials. That is the most obvious negative side,” said Robert Halver, an analyst at investment bank Baader.
Most recently, Germany approved a 4.5 billion euro ($5 billion) package of tax cuts for consumers, and debated additional aid measures. The German Economy Minister said he wanted financial support in the face of rising fuel and electricity prices “as soon as possible” but could not come to a final decision.
This delay angered many Germans. They criticized the German government for maintaining a high electricity tax and for not quickly implementing supportive reforms.
“The Federal Association of Small and Medium Enterprises is concerned that there will be bankruptcy and loss of jobs for many companies due to high energy prices. This has become a matter of life and death for many businesses,” said the association’s CEO Markus Jerger.
According to: Bloomberg
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