Germany unveils €200bn help for consumers and says it won’t follow UK’s route

“Prices have to come down. That is our conviction,” said Scholz, adding: “For them to come down, we will need a big defence shield.”

Lindner, of the fiscally hawkish Free Democratic party, said the energy price package would not entail further regular borrowing, adding that Germany was “expressly not following Great Britain’s example down the path of an expansionary fiscal policy”.The economic stabilising fund was set up in 2020 and filled with €500bn to aid businesses affected by lockdown measures.

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