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Bundestag decides 200 billion defense shield against high energy prices

2022-10-21T10:19:25.906Z


The state wants to partially cap gas and electricity prices to relieve consumers. Stumbling companies should be helped. The Bundestag agreed to this – the opposition has many unanswered questions.


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The Bundestag during the debate

Photo: Britta Pedersen / dpa

The Bundestag has cleared the way for the financing of the planned energy price brakes and company aid in the energy crisis.

With the decision on Friday, the economic stabilization fund can now take out loans of 200 billion euros.

The factions of the traffic light parties SPD, Greens and FDP voted for the law on Friday.

The opposition criticized that the exact use of the funds was unclear.

The Corona Crisis Fund WSF is to be reactivated and provided with new funds for the defense shield.

The funds can then be used until mid-2024 to finance the planned gas price brake, the planned electricity price brake and help for ailing companies.

The Bundestag had previously agreed to suspend the debt brake again.

»Nobody in this country knows what they actually do«

The FDP budget politician Otto Fricke said in parliament that the protective shield gives planning security for citizens and companies.

The Union, as the largest opposition party, spoke of a blank commitment that the government was demanding.

"No one in this country knows what they are doing specifically," said CDU politician Mathias Middelberg.

"The reality is that we don't have a concrete proposal." The government wasted months and even wanted to burden the citizens with the gas levy, which has meanwhile been withdrawn.

In addition, the loans should only be taken out in full this year so that Finance Minister Christian Lindner (FDP) can artificially keep his promise of the debt brake in 2023.

The Federal Court of Auditors also criticizes that the billion pot should be used over several years until 2024.

This contradicts the principle of annuality, which states that a federal budget is always drawn up for one year.

FDP housekeeper Otto Fricke countered that the special fund ensures that the money is there when it is needed.

With a view to criticism of the late start date for the gas price brake not before March, the SPD parliamentary group leader Matthias Miersch referred to considerations as to whether, in addition to the one-off payment already planned for December, "another down payment" is possible.

In addition, the government also wants to look at people “who heat with pellets or oil”.

How exactly the recently sharply increased prices for gas and electricity are to be pushed down is still open.

In the case of gas, a commission set up by the government has proposed that the federal government initially take on the December bills.

From March, an upper price limit for a basic quota of 80 percent of normal consumption could then apply.

(Read here what the gas price brake will do for you in concrete terms.) A price brake is to apply to major customers in industry as early as January.

However, it is still unclear whether the federal government will implement the proposals in exactly the same way.

Such a discounted basic contingent is also being discussed for electricity.

By only capping part of consumption, the federal government wants to ensure that energy is saved despite the lower price.

kko/dpa/Reuters

Source: spiegel

All business articles on 2022-10-21

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