Volkswagen: VW-penalty payment for Internet expansion and hospitals

Internet expansion, hospitals, debt reduction: the state Government of Lower Saxony has determined how the VW penalty is to be invested.

Volkswagen: VW-penalty payment for Internet expansion and hospitals

The Lower Saxon state government wants to invest penalty payment that VW Group has to make because of exhaust gas scandal, especially in expansion of wide-range network and in hospitals. The draft budget for 2019und financial planning until 2022 see each 350 million euro from DerVW billion for se areas. According to Prime Minister Stephan Weil (SPD) The money is also to be invested in DenSchuldenabbau, rehabilitation of sports facilities and an environmental fund ZurLuftreinhaltung.

The Public prosecutor's Office Braunschweig had imposed a record fine of one billion euros against car manufacturer in a offence procedure because it violated internal supervisory duties. The payment went to Lower Saxon Treasury, which is responsible for VW Group. Or countries had demanded a nationwide distribution of fine, for example for air pollution plans in municipalities or electromobility.

According to Lower Saxony finance Minister Reinhold Hilbers (CDU), country uses payment to "finance sustainable investments in future and at same time to pay off debts". The Coalition AusSPD and CDU, which reigns in Lower Saxony, already 500 million euros for stepping up of nationwide fibre optic network for fast Internetverbindungenbereit. With share from penalty payment of VW, pledged Summeauf 850 million euros.

Updated Date: 26 June 2018, 12:02

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