Promise Wumms: Economics Minister Robert Habeck, Federal Chancellor Olaf Scholz and Finance Minister Christian Lindner
Photo: Kay Nietfeld
If it hadn’t been for the desperate appeals to the federal government heard from large parts of society to finally do something about the energy price explosion, it is not known whether, when and how the traffic light coalition would have governed. Now she does it and speaks of a double boom: she collects the gas surcharge immediately before it comes into force. This instrument could not be communicated to anyone anyway, as it meant additional funeral relief for consumers. But this is exactly what is needed so that millions of households as well as small and medium-sized businesses are not driven into ruin by ever-higher gas prices.
In order to achieve this, the federal government is introducing a gas price brake – at least on part of consumption by households and industry. How much consumption is subsidized and from what price the cap takes effect are just two of many unknowns that the traffic light left unanswered on Thursday. But all of this only makes sense if the relief also protects people with low incomes.
With funding of up to 200 billion euros, everything smells as if the SPD and Greens had entered into a compromise with the FDP. The federal government will take out new loans this year, which will then be available via a special fund. Compliance with the debt brake from 2023, which the Liberals are vehemently demanding, should thus be possible. All of this is a double-edged sword: financing the cap through debt is definitely better than not introducing a price brake. But even loans have to be repaid one day. An excess profit and wealth tax could make their contribution, but they simply cannot be done with the client party FDP.
