Uoc, University in Cologne, Germany

Berlin, Nov 15 The German Parliament's upper house - Bundesrat - on Monday approved the federal government's plan to cover December's gas bill for households and certain businesses. The payment is intended to bridge the gap until the planned introduction of the gas price brake next March.Private gas consumers and smaller businesses with annual gas consumption of up to 1,500 megawatt hours will be relieved of "dramatically increased costs" through the one-time payment, Xinhua news agency reported, citing a statement by the Bundesrat.Although wholesale prices for gas have recently fallen sharply, "further developments remain uncertain", Minister for Economic Affairs Robert Habeck warned, calling the Bundesrat's decision a "very important step" for consumer and business relief.Driven by soaring energy prices, inflation in Germany rose to 10.4 per cent in October, according to the Federal Statistical Office (Destatis). Despite a value-added tax (VAT) reduction from 19 per cent to 7 per cent, the price of natural gas has more than doubled year-on-year.The VAT reduction is part of a series of inflation relief measures totaling 95 billion euros ($97.9 billion). the government has also set up a "protective umbrella" worth 200 billion euros, which is intended to finance the gas price brake and the cap on electricity prices.So far, the relief provided by the VAT reduction and the lower wholesale prices has not prevented the rise in consumer prices in Europe's largest economy. According to the German price comparison website Check24, more than 400 gas suppliers have raised prices or announced increases since the end of September.Also on Monday, members of the conservative CDU/CSU (Christian Democratic Union/Christian Social Union) faction of the Bundesrat blocked the government's planned overhaul of the so-called "Hartz IV" social benefits system, which foresaw the introduction of "Buergergeld," or "citizens' income" by raising the level of benefits from 449 euros per month to 502 euros."For many people, there will be a cold, bitter winter if the citizens' income fails," the social association VdK warned, adding that the CDU should "not turn a blind eye to the people's need."Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

UocFOLLOW

Uoc, Latest News

Germany's head coach Hansi Flick called his team's draw against Spain the required spark that his side needs after ... ...

Doha, Nov 26 German striker Kai Havertz has said that everyone has to "pull their weight" if their ... ...

Berlin, Nov 24 Gurdeep Singh Randhawa, an Indian origin German national, has been appointed to the Thuringia state ... ...

In what was unarguably the second-biggest upset of the 2022 Qatar World Cup, Japan stunned 4-time world champions Germany ... ...

New Delhi, Nov 19 The 2022 World Cup in Qatar will get underway on Sunday with football players ... ...

Frankfurt, Nov 15 Representatives from national banks and supervisory authorities in the euro area have stressed the resilience ... ...

Berlin, Nov 15 The Bundesrat, ot upper house of the German Parliament, has approved the government's plan to ... ...

Berlin, Nov 15 The German Parliament's upper house - Bundesrat - on Monday approved the federal government's plan ... ...