Germany agrees with ruling party not to issue new government bonds for climate change

[Berlin 20th Reuters]-The German ruling party agreed to implement a policy package for climate change measures without issuing new government bonds on the 20th.

The ruling party created by the conservative Christian Democratic Union (CDU) led by Prime Minister Merkel and the Social Democratic Party (SPD) of the Middle-Left School has a total package of over 50 billion euros (US $ 55 billion) for new climate change measures by 2023. Agreed to. New government bonds will not be issued for fundraising.

Some economists and others have called for the government to increase investment significantly in response to climate change measures, but Prime Minister Merkel said the ruling party will maintain its fiscal balance policy.

According to the agreed plan, the government will introduce the transaction price of carbon dioxide (CO2) allowance for transportation and building heating from 2021. The price will be 10 euros per ton, 20 euros in 22 years, and then 5 euros up to 25 years.