Germany Cuts €19.7 Billion From Climate Fund, Shifts €13.2 Billion to Budget
Updated
Updated · Bloomberg · Jul 15
Germany Cuts €19.7 Billion From Climate Fund, Shifts €13.2 Billion to Budget
1 articles · Updated · Bloomberg · Jul 15
Summary
Germany’s cabinet approved a financial plan to reduce climate and transformation fund spending by €19.7 billion and redirect €13.2 billion into the federal budget over the next four years.
More than €30 billion will be removed from the fund through 2030 as Chancellor Friedrich Merz’s government moves to consolidate public finances.
Heat-pump and electric-vehicle subsidies are among the areas targeted as Berlin trims climate spending to support its broader budget plans.