JUST IN: German Government Announces 130 billion Euro stimulus package For Citizens’ Welfare, To Include 300 Euros Per Child In Each Family.
Germany’s Chancellor, Angela Merkel said on Wednesday that her administration will invest 130 billion euros into a stimulus package to kick-start the German economy.
Outlining the proposed measures in a detailed 15-page document, Merkel said that families will receive 300 Euros for every child, and value-added tax will be temporarily slashed. Families will receive 300 euros for each child, while those who purchase electric cars will see a government rebate doubled to 6,000 euros.
“The size of the package will reach 130 billion euros for 2020 to 2021, 120 billion of which will be borne by the federal government,” said Merkel.
The fresh stimulus nicely tops up a 1.1 trillion euro rescue package issued recently in March, comprising loan guarantees, subsidies and a beefed-up shorter-hours programme to avoid job cuts.