Economic Hardship Coming To Germany As Country Locks Down, January CO2 Tax Looms

Starting tomorrow another Corona lockdown goes into effect in Germany

By A.R. Göhring
(Text translated/edited by P. Gosselin)

The government factions and the Greens decided on a significant increase in CO2 price – from 10 euros per ton up to 25 euros. Not only heating and filling the gas tank will become even more expensive from January 2021, but other sources of energy as well.

In the “climate package” of Autumn 2019, a price of 10 euros per ton of emitted CO2 was agreed upon, but this was criticized by the German Greens and their affiliated Fridays for Future organizations and numerous editorial offices because a curbing effect would not result from the low price.

In plain language, it probably means that not enough money is coming in to pay the profiteers, and therefore the many green lobbyists put pressure to raise the carbon price significantly. And with success: the German Parliament decided to more than double the price to 25 euros per ton.

And since the lockdown has already ripped huge holes in the wallets of many employees and self-employed persons since March, the rising prices of consumer products across the board will put German citizens economically under even more pressure.

Although taxpayers saw some relief from the lowered  value added tax to 16%, it is of no use: the reduction expires already on New Year’s Eve.

But, the additional additional revenue from CO2 taxes is also aimed at reducing the burden on citizens, for example the EEG feed-in levy to promote green electricity will be lowered and the commuters will be given tax breaks. But this does not benefit producers, which is why the German Chamber of Industry and Commerce has demanded subsidies. Not without reason: Otherwise, our companies could migrate to nearby foreign countries where no fanatic climate activists are at work.

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via NoTricksZone

November 1, 2020 at 10:18AM

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