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Germany unveils €130bn coronavirus recovery package | World news


Germany has unveiled a €130bn (£116.4bn) package of tax and spending measures designed to boost the country’s economic recovery from the coronavirus crisis. Announcing measures to drag Europe’s largest economy out of recession as lockdown measures are removed, Angela Merkel’s government said it would use the package of sweeping temporary tax cuts and increase benefits to turbocharge its recovery. Measures included a cut in VAT until the end of this year and substantial payments for every child in the country designed to help ordinary German families, alongside the launch of a €50bn fund to tackle global heating and finance new technologies. A state financial incentive to buy an electric car has been doubled to €6,000.

The Guardian - June 4, 2020

View the full story here: https://www.theguardian.com/world/2020/jun/04/germany-unveils-huge-130bn-coronavirus-recovery-package