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The New Fiscal Package July 2020

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„On 12 June 2020, the federal cabinet adopted the first extensive measures that form part of the stimulus package, which takes decisive action to tackle the economic effects of the Covid-19 pandemic. The measures that were adopted include a temporary reduction of VAT rates in the second half of 2020, a €300 bonus for families with children, improved depreciation rules for businesses, and an extensive short-term aid programme for small and medium-sized firms.

 

These actions are key elements in the €130 billion stimulus package that was agreed between the parties in Germany’s governing coalition on 3 June 2020. The package is comprised of targeted measures that are designed to give the economy a powerful boost, to safeguard jobs, and to guide a modernised Germany into an environmentally sustainable future.

 

The draft legislation adopted by the cabinet will now be forwarded to the German Bundestag for deliberation. The cabinet will decide shortly on additional measures that will form part of the stimulus package.“

 

https://www.bundesfinanzministerium.de/Content/EN/Standardartikel/Topics/Public-Finances/Articles/2020-06-04-fiscal-package.html;jsessionid=817169D413DD7EE1D40850C32C1BB60E.delivery1-replication

 

 

 

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