Economic news

German Lower House Approves Fuel Tax Discount

BERLIN, Sept 25 (Reuters) - Germany's lower house of parliament approved on Friday the ​second temporary gasoline tax discount this year, ‌which will cost federal and state governments €2.5 billion ($2.85 billion).

Following approval by the lower house, the ​upper house of parliament -wherethe states are ​represented - is expected to also pass the ⁠fuel price discount later on Friday.

The ​government will cut taxes on gasoline and ​diesel by €0.17 ($0.20) per litre from the beginning of October until the end of December to help ​citizens deal with fuel prices sent ​soaring by the Iran war.

As the Middle East conflict shows ‌no ⁠signs of easing, the German government has been forced to revive relief measures for consumers and companies after temporary moves earlier ​this year, ​trying to ⁠contain public discontent and the rise of the far-right.

Germany approved in ​April a fuel tax discount for ​May ⁠and June to cushion the impact of higher petrol prices which cost €1.6 billion ⁠and, ​during the two months it ​was in effect, inflation eased.

($1 = 0.8777 euros)

Reporting by Maria ​Martinez and Christian Kraemer Editing by Ludwig Burger

Source: Reuters


To leave a comment you must or Join us


More news


Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree