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European governments are seeking to soften the blow from rising energy and other commodity prices that have hit the old continent, while at the same time, Bloomberg says, aiming to maintain voter support for sanctions imposed on Russia over its occupation. its in Ukraine.
Greece gave the green light to the € 1.1 billion social assistance package for low-income families estimated at up to € 30,000 a year; this category also benefits from reduction of fuel, reduction of the price of electricity and heating fuels.
It also envisages tax and price reductions, a real estate tax block, a subsidy for farmers, and a mechanism for setting a price ceiling. The measures have a three-month deadline: April, May, June. yes for the same purpose, the german executive approved a package of 4.5 billion euros in tax breaks for consumers and is discussing further assistance.
Chancellor Olaf Scholz’s coalition has continued to look for ways to manage the stalemate created by his country’s large exposure to Russian gas. Official Rome has also come under pressure to find a quick solution to rising energy prices. At the table of the Council of Ministers is the reduction of fuel excise, while the aim is to intervene on increasing the price of electricity and gas by remodeling social bonuses and thinking about new forms of installment payments. For months now, energy prices have continued to rise due to an inflation crisis launched in late 2021, which subsequently, was significantly exacerbated by the conflict in Ukraine.
Gasoline in Italy currently costs 2,208 euros per liter. Other countries are also trying to react to the aggravated situation. France, with the presidential election a month away, has begun to see the first protests against rising prices after truckers, farmers and fishermen blocked two ports in Brittany on Tuesday, so it is set in motion for relief measures.
Spain is examining energy price limits and plans tax cuts by the end of March while Portugal has reduced the fuel tax and offered 400m euros in loans to affected industries.
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