The price shock is keeping Germany firmly in its hand: energy prices are rising noticeably, gasoline is becoming more expensive, and the inflation rate jumps to 4.5 percent in October. The result: Everything becomes more expensive for the consumer, wages and pensions lose value.
And the federal government: one is almost gone, the other are not there yet. The rulers leave the citizens in the lurch. Instead of concrete solutions, there are only empty promises of relief – while savers melt away the money.
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It is worth taking a look at the neighboring countries.
► The government in Great Britain has withdrawn the planned increase in fuel tax in order to relieve households and companies, announced Finance Minister Rishi Sunak (41).
► Also France already reacted to the price shock: people with low incomes are to receive a one-off 100 euros at the end of December. The so-called “inflation compensation” should be transferred automatically, said Prime Minister Jean Castex (56).
The money (around 3.8 billion euros) is to be paid from the state budget. And: France caps gas prices. At least until the end of 2022, the costs for consumers should remain stable.
► Italy supports more than three million poor households with subsidies for electricity bills. Rome is also lowering the VAT rate for gas for ALL households.
► Spain also lowers the VAT on electricity from 21 to 10 percent.
► South Korea will temporarily cut fuel taxes to counter the rise in prices.
▶ ︎ China has reportedly stopped collecting taxes from coal companies
Merkel: “I think we should react prudently”
But while the energy crisis is threatening the very existence of hundreds of thousands of citizens and companies in Germany, the expensive winter apparently leaves the federal government cold. When the heads of government discussed possible measures at the EU summit last Thursday, Chancellor Angela Merkel (67, CDU), of all people, put the brakes on.
“I think we should be prudent,” she said.
► Her likely successor in office, Olaf Scholz (64, SPD), apparently has other priorities. Transport Minister Andreas Scheuer (47, CSU) reported on BILD LIVE on Sunday that he had asked the Vice Chancellor by letter to prepare “short-term effective measures”.
But he’s still waiting for Scholz’s answer to this day.