Posted 12/15/2023, 12:33:00 PM
German Parliament Approves Moderate Carbon Price Increase to Address Budget Shortfall
- German parliament approves raising carbon emissions levy from 30 to 45 euros per ton starting next month
- Increase is part of a deal to resolve a 17 billion euro budget deficit
- Court previously annulled government's decision to use 60 billion euros of COVID funding for climate change
- Other measures to address budget gap include cutting subsidies, reducing some ministry budgets, rail modernization
- Carbon pricing increase aims to bolster climate and transformation fund impacted by court ruling