Germany's stimulus package helps consumers and companies

Submitted by pmassetti on Fri, 06/05/2020 - 12:04
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Reuters (04.06.2020) German Chancellor Angela Merkel’s coalition on Wednesday agreed on a stimulus package worth 130 billion euros ($146 billion) to help companies and workers in Europe’s largest economy recover more quickly from the coronavirus pandemic.

- Parents will get a cash handout of 300 euros per child. This costs 4.3 billion euros.

- The government stabilises the social security system, which includes public health care and unemployment aid, with a cash injection of 5.3 billion euros in 2020 and additional funds in 2021. This helps both companies and employees by keeping their social contributions below the 40% threshold of income.

 

measures summary

- Parents will get a cash handout of 300 euros per child. This costs 4.3 billion euros.

- The government stabilises the social security system, which includes public health care and unemployment aid, with a cash injection of 5.3 billion euros in 2020 and additional funds in 2021. This helps both companies and employees by keeping their social contributions below the 40% threshold of income.

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