Actually, the billion dollar package is supposed to get the economy back on its feet. Economists are now making serious allegations: the aid would even partially harm the economy.
The Stimulus package the federal government in the fight against the Corona-Krise According to a study, it partially harms the economy. More than 40 billion euros of the planned subsidies are to be viewed critically, according to the study published on Friday by the Kiel Institute for the World Economy (IfW).
Around 4.4 billion euros or 2.6 percent of the total package can even be classified as harmful to the economy as a whole and should be deleted without replacement. This includes the promotion of Electromobility by increasing the purchase premium from 4,000 to 6,000 euros (2.2 billion euros), the fleet exchange program (0.2 billion) and the bonus program for future investments by vehicle manufacturers and suppliers (two billion).
“With the one-sided and massive funding of electromobility, the state disadvantages alternative drive concepts that may later prove to be more advantageous,” said IfW expert Claus-Friedrich Laaser. “The bonus program only subsidizes the car industry and their suppliers, other major economic sectors do not benefit. “
Experts: controversial hydrogen strategy
As contradicting and therefore inefficient, 14.7 billion euros of the subsidies and thus around 8.8 percent of the total package are quantified. This includes the IfW lowering the EEG levy to promote green electricity or the Grants for the preservation of the forests.
“It is not the goal of the climate protection measures that is problematic, but their design,” said Laaser. “The promotion of individual technologies or behaviors is not efficient. A uniform CO2 price across all sectors would be much more effective and cost-effective.”
The authors of the study consider subsidies of 21.3 billion euros (12.7 percent) to be controversial, as arguments for and against the measures could be found or they could be made more cost-effective. This concerns about the national hydrogen strategy of seven billion euros.
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