Germany may extend a tax-reduction program for energy-intensive companies by another year as the government seeks ways to revive industrial growth.
Finance minister Christian Lindner floated the option as a cheaper alternative to rolling out a reduced power price for industry, according to an interview with newspaper Welt published Sunday. While the Economy Ministry continues to push for broader industrial relief, a spokesperson said it would “expressly welcome” the measure.
The subsidy — which was already prolonged last year — currently reimburses about 90% of energy taxes for around 9,000 companies. The government’s budget plan for next year didn’t initially foresee prolonging the €1.7 billion measure, prompting warnings from industry associations that full taxation would increase energy bills tenfold in an already tense situation.
Germany’s manufacturers are still reeling from the consequences of last year’s energy crisis, and are increasingly eyeing production abroad amid high energy prices at home. While Lindner is trying to rein in government spending after years of crisis support, his coalition partners are still pushing for a reduced power price to support the nation’s energy-intensive industry, a measure that would cost significantly more than prolonged tax relief.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
| Eyes at City Hall turn to Queen's Park after council asks for sales taxAfter a marathon Toronto city council meeting this week to address its deep financial crisis, all eyes now shift to Queen's Park to see if Premier Doug Ford's government will approve a request for a controversial municipal sales tax.
Read more »
Serbia and Germany in pursuit of first World Cup titleBy Neil Jerome Morales MANILA (Reuters) - A first-time winner will be crowned on Sunday when Serbia and Germany lock horns in the first all-European ...
Read more »
All eyes are on Hurricane Lee in Atlantic CanadaCBC Meteorologist Ryan Snoddon has a closer look at Hurricane Lee and the main factors for the eventual path of the storm.
Read more »
Soccer-Germany in freefall after 4-1 shock loss to Japan as Euro 2024 loomsWOLFSBURG, Germany (Reuters) - Euro 2024 hosts Germany slumped to a shock 4-1 home loss to Japan in their international friendly on Saturday, deepening ...
Read more »
Germany routed 4-1 by Japan in friendly as pressure mounts on coach Hansi FlickGermany was jeered by its home crowd Saturday after slumping to a 4-1 loss to Japan to pile yet more pressure on coach Hansi Flick, nine months out from hosting the European Championship.
Read more »
Soccer-Germany's Flick says he's still right coach despite 4-1 loss to JapanWOLFSBURG, Germany (Reuters) - Germany coach Hansi Flick said he was still the right man to lead the team after their 4-1 shock loss at home against ...
Read more »