Germany’s federal authorities are considering a bailout for low-income citizens as the country’s cost of living crisis looks “likely” to worsen.
Hubertus Heil, Germany’s Labour Minister and a member of the left-wing Social Democratic Party, has announced that it is his intention to bail out low to medium income earners in Germany in the hopes of offsetting the ongoing cost of living crisis.
Thanks to a combination of the ongoing war in Ukraine and poor policy decisions in the past, the European Union member-state is currently suffering deeply from a steep rise in food and energy prices — a crisis which some experts now believe is set to get even worse.
“A specific relief for people with low incomes is now necessary, especially with food, so that they can absorb the shock of high inflation,” Fratzscher said, but warned that families “with little income would actually need 100 to 150 euros a month” as opposed to only around 200 euros a year. Labour Light: Tory Govt to Impose 25 Per Cent Windfall Tax on Oil and Gas Firm Profits Amid Cost of Living Crisis
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