Agreement in the coalition Committee: Corona-aid for the economy

the CDU and the SPD want to facilitate access to short-time work and government investment increase. The price of Oil drops to lowest level since 1991. the Fe

Agreement in the coalition Committee: Corona-aid for the economy

the CDU and the SPD want to facilitate access to short-time work and government investment increase. The price of Oil drops to lowest level since 1991.

the Federal health Minister Jens Spahn hits to the coalition Committee at the Federal Chancellery photo: Christoph Söder/dpa

BERLIN afp/taz | To mitigate the economic consequences of the Corona epidemic have reached the peaks of the Grand coalition on the facilitation of short-time work and an increase in the investment of 12.4 billion euros by 2024. After more than seven hours of deliberations, the coalition Committee said on Monday night that the social insurance contributions in the case of short-time work to complete the Federal employment Agency refunded.

in Addition, to be short of work possible, if 10 percent of the workforce are affected; so far, this Quorum is 30 percent. Short-time work money should be in the future, can also be of Temporary workers based. The draft law, Minister of labour, Mr Hubertus Heil (SPD) will be on Wednesday, the Federal Cabinet decided in the first half of April in force. The relevant regulations will initially apply until the end of 2020.

unlike many expected, the coalition parties have not agreed, however, to an early abolition of the solidarity surcharge for people on lower and medium incomes. The abolition is for the 1. January 2021 planned, talks a Prefer the 1 was. July.

name of other support measures, the Federal government will. proposals for Liquidity support for companies that are particularly affected by the impact of the Coronavirus A conversation with the top associations of German industry and the trade unions will take place shortly. The tax status of partnerships is made possible by the introduction of an Option to the corporate income tax.

"By the Corona-crisis should come, no company in Germany, in insolvency, as far as possible no work will be lost", - was stated in eriner written statement of the peaks of Union and SPD. You referred to the "tried-and-tested promotional instruments" that were available to the undertakings concerned. At the same time, the coalition insured peaks, should exacerbate the situation, "we want to be able to quickly and pass react in exactly the same".

the CDU and the SPD reiterated in addition, your goal is to make further investments for economic growth. In the financial planning of 2021 to 2024, the investment of the Federal government be increased to around three billion euros; this allows for "new priorities" in the total amount of 12.4 billion euros.

Meanwhile, crashed due to the spread of the novel Coronavirus in connection with falling of demand and the dispute between Opec and Russia about a further cutback of Oil production, the price of Oil: He fell on Monday morning by more than 30 percent to over 30 dollars per Barrel (159 liters); the largest price decline since the Gulf war in 1991. In consequence, the shares plunged courses on the stock exchanges in Asia and in the Gulf States.

The organization of the petroleum exporting countries (Opec) had on Friday with its partners on a reduction of the funding amounts of some, especially Russia, in the Talmud. The largest producer Saudi Arabia announced on Sunday, to lower the price of Oil by up to six dollars per Barrel for deliveries to Asia and seven dollars for deliveries to the USA. Experts warned, the price per Barrel could fall to $ 20, and should not be a member of the Opec and Russia.

On the stock exchanges of the Gulf countries the rates fell on Monday In Kuwait, the trade was suspended after the Prime Index had fallen to 9.5 percent. In Dubai, prices decreased by 9.0 per cent, and in Abu Dhabi by 7.1 percent. In Asia, had previously shown a similar picture. In Tokyo the Nikkei Index fell 5.07 percent, it was the strongest case in February 2018. In Australia, the prices fell to 7,33 percent, the highest since October 2008 during the financial crisis. In China, especially the Index Hang Seng reacted to the stock exchange in Hong Kong, he fell at the start of trading by nearly four percent. In Shanghai and Shenzhen, the losses were lower.

Date Of Update: 09 March 2020, 10:00

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