Orange with Media Services, published on Saturday, June 11, 2022 at 6:59 p.m.
Faced with the rise in inflation, which rose from 7.4% in April 2022 to 8.1% in May, some European countries have tried to mitigate its effects through various means: lower fuel prices, lower taxes or help paying bills. Overview of some measures taken elsewhere.
8,1%.
This is the record level reached by inflation, over one year, in May 2022, according to the statistical office of the European Union Eurostat. Several European countries, including Germany, Italy, the United Kingdom and Spain, have announced measures to support household purchasing power. France has also taken steps to cushion rising prices as the country’s economy faces the challenge of stagflation.
Germanywhich experienced an inflation of 7,9 % in May 2022 over one year, released some 30 billion euros to support households in the face of soaring prices, which have worsened due to the war in Ukraine. The Federal State has offered a rail transport package at 9 euros. This allows citizens to travel, at will, on the entire regional network until the end of August 2022. The executive also announced the introduction of a fuel discount, 30 cents per liter for gasoline, and 14 cents for diesel.
All taxable employees have obtained a check for 300 euros on the one hand. On the other hand, households considered to be the most modest will be entitled to additional aid set at 100 eurosin addition to a bonus of 100 euros per child.
The case of the United Kingdom : to deal with inflation that has reached 9 %the government proposed a check for 400 livres (about 467 euros) to help households pay gas and electricity bills in particular. To do this, the government has also released 15 billion pounds (more than 17 billion euros), after having already released 9 billion pounds (10.5 billion euros), in February 2022. Result: the eight million most modest households will receive 650 extra pounds (760 euros). Retirees will also benefit from this aid.
In southern Europe, Italy is experiencing 7% inflation. In an attempt to contain this surge, Italian Prime Minister and former head of the European Central Bank, Mario Draghi, unblocked 30 billion euros to offer an allowance of 200 euros to the 28 million Italians receiving a gross annual salary of less than 35,000 euros. The Italian executive has also decided to reduce taxes by 30 cents per liter of fuel. This is a measure that came into effect last April and is extended until July 8.
The Iberian case
In Spain, inflation reached 8.7% in May, over one year. The Spanish executive has announced a plan to 6 billion euros in direct aid including aid on fuels, an increase in the minimum subsistence income and the fact of continuing to lower taxes, with the ambition of reducing electricity bills. the government is counting on a reduction of 20 cents per liter of fuel, with double funding: 15 cents by the State and 5 cents by the oil companies.
In addition to these measures, Madrid obtained, with its Portuguese neighbor, the agreement of Brussels to reduce the price of gas used to generate electricity in the Iberian Peninsula. Which allows to reduce the bill consumers.