Germany eyes €2bn subsidies to ease petrol pump and heating costs

German chancellor Olaf Scholz: Has taken the initiative on defence spending with masasive order of fighter jets.

Germany is setting the pace in  Europe with its financial response to the fallout from Russia’s invasion of Ukraine, raising the prospect of billions in aid for consumers and businesses hurt by surging fuel prices and pushing ahead with the purchase of F-35 warplanes to bolster its airforce.

Finance Minister Christian Lindner threw his weight behind a proposal to ease the burden from the jump in costs at the fuel pump with a temporary rebate that could cost the government up to €2bn.