PARIS – France will spend 8.4 billion euros ($8.67 billion) to assist firms pay their vitality payments, in a bid to cushion the influence of rising electrical energy and gasoline costs and assist them compete with German companies, its finance minister stated on Saturday.
France will reduce a particular tax on electrical energy to the minimal allowed below EU guidelines and permit firms to faucet a particular mechanism to obtain low-cost nuclear-derived energy. Small companies may even profit from the vitality value caps already in place for households.
“(French) firms will probably be protected in addition to German firms are,” Finance Minister Bruno Le Maire informed France Inter radio.
“We may even guarantee that EU competitors guidelines apply to all firms, whether or not they're Italian, Spanish, French or German,” he stated.
Earlier this yr, Germany set out 200 billion euros to guard firms and households from excessive vitality costs, drawing criticism from different EU international locations fearing a distortion of the EU stage taking part in discipline.
The 8.4 billion euros bundle France unveiled on Saturday is the associated fee for 2022 and 2023 collectively, the finance ministry stated in a press release. France has already earmarked 45 billion euros to assist households.
($1 = 0.9686 euros)
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