Thursday June 26, 07:06 AM
German govt may reintroduce 5 bln euro fuel tax break for commuters - report
LONDON (Thomson Financial) - Germany may reintroduce a 5-billion-euro per year tax break for commuters to shield consumers from rising petrol prices, the Financial Times reported, quoting officials from Chanceller Angela Merkel's Christian Democratic Union.
The political pressure to bring back the subsidy, which was abolished last year, is so great that 'we will not have the political strength to resist it', one source told the newspaper.
Using taxes to offset rising petrol prices would mark a U-turn for Germany, which recently rejected French suggestions that European governments should cut levies on petrol to protect consumers' purchasing power.
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