The government of Germany has announced a $65bn plan to help people and businesses combat rising prices, as many European countries bring in emergency measures to get ready for a long winter amid a disturbing Russian gas supply to Europe following the Ukrainian invasion.
German Chancellor Olaf Scholz on Sunday announced an action list in the wake of expectations that energy costs would reach sky-high in the coming months. Energy prices have shot high as Europe has been trying not to procure Russian energy after Moscow invaded Ukraine in February.
Two days ago, Moscow put the lid on the main pipeline supplying gas to Europe indefinitely, compelling countries like Germany to take shelter in alternative energy supplies elsewhere.
Scholz said his government had been planning for a complete stop in gas supply in December, but he vowed that his country would outlast the energy through winter.
“Russia is no longer a reliable energy partner,” Scholz told a news conference in Berlin.
The German leader said the monetary bundle is aimed at protecting customers and businesses from rising inflation with steps including benefit hikes and a public transport subsidy.
Income tax-paying workers will get a one-off energy price allowance of $300, while families will receive a one-time bonus of $100 per child, and $200 for low incomes families.
