5 C
Brussels
Friday, November 22, 2024
An EU member state will distribute "petrol" vouchers to the poor

An EU member state will distribute “petrol” vouchers to the poor

DISCLAIMER: Information and opinions reproduced in the articles are the ones of those stating them and it is their own responsibility. Publication in The European Times does not automatically means endorsement of the view, but the right to express it.

DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.

Gaston de Persigny
Gaston de Persigny
Gaston de Persigny - Reporter at The European Times News

French Finance Minister Bruno Le Maire said today that he supported the idea of ​​distributing “petrol vouchers” to help low-income households cope with rising fuel prices. According to the Minister, this measure is preferable to reducing taxes on gasoline.

“I prefer petrol checks to tax cuts,” Le Maire told French radio Europe 1.

French Environment Minister Barbara Pompili, for her part, told France 2 television that the government was trying to introduce the “petrol vouchers” in question, but it was a complicated process.

Finance Minister Bruno Le Maire also noted that the French state could receive an additional 2.5 billion euros in VAT revenues for 2021, if energy prices remain at current high levels.

He clarified that this is not really additional fiscal revenue for the state treasury, as it has already spent more than 5 billion euros to help households pay their heating bills.

Reducing value added tax (VAT) or the internal tax on energy consumption “is not the right option” to deal with the current situation, Le Maire said.

According to him, this could lead to both “suffocation” of economic growth and reduced tax revenue.

“The one cent reduction in the price of a liter of fuel means half a billion euros less in taxes for the treasury,” the French finance minister added.

Energy vouchers are currently provided to nearly 5.5 million households in France.

- Advertisement -

More from the author

- EXCLUSIVE CONTENT -spot_img
- Advertisement -
- Advertisement -
- Advertisement -spot_img
- Advertisement -

Must read

Latest articles

- Advertisement -