German EV subsidies SLASHED after Court ruling | MGUY Australia
EV subsidies in Germany have gone up in smoke faster than a lithium battery and thermal runaway leaving the EV Market in complete turmoil this is a huge problem because as we must all know by now the only way governments can get people into electric cars is by bribing them with tax relief
Or subsidies or other incentives nobody would of their own free will at least if they were of sound mind pay double the price of a regular internal combustion engine car for Less convenience the hassle of charging higher insurance and catastrophic depreciation even with all the sweeteners the market is reaching
Saturation Point as all the EV Fanboys already have their milk floats and nobody else will touch them with a barge pole if you’re after EV and Net Zero sanity you’ve come to the right place if you like this kind of content it’ be great to have you as a subscriber and
Don’t forget to enable all notifications so you never miss another video so the background to this is that the German government thought it would be clever to appropriate 60 billion EUR of unused pandemic funds for the purposes of its climate and transformation fund never mind about public services schools and
Hospitals you could recruit an awful lot of nurses for 60 billion EUR but instead it was headed straight into the green hole kind of like a black hole which sucks in everything around it never to be seen again but for green initiatives fortunately however the German constitutional Court had other ideas
Germany cannot shift C funds to climate projects court rules Germany highest Court ruled on Wednesday that the government’s plan to repurpose tens of billions of Euros from a pandemic fund to help Finance environmental projects violated the nation’s Constitution the decision threatens to rip a hole in the country’s budget and complicate its
Transition to a Greener economy the ruling means that the government of Chancellor Olaf Schultz cannot shift 60 billion EUR about 64.6 billion earmarked for tackling the C9 pandemic into a special fund aimed at helping Germany meet ambitious goals to reduce carbon emissions the case was brought before
The court by the center right opposition which argued that the government could not redirect emergency funds raised for one purpose to another without approval by lawmakers Mr Schultz said his government would respect the ruling and pledge to swiftly revise the affected fund and one of the first things to go
Of course was the generous EV subsidies cash poor Germany ends private EV subsidies faced with a severe budget crisis the German government has abruptly ended the subsidy of up to €4,500 for the purchase of a new EV the measure only applies to the private Market the so-called environmental bonus
To support the purchase of EVS on Germany’s private Market was supposed to end on 31st December instead it was canceled with immediate effect on 17th December government incentives for the purchase of EVS by corporate customers already ended on 1st September this year that phase out had been announced well
Ahead of time so it had no unexpected effects on the purchasing intentions of corporate fleets the suddenness with which the subsidies for purchasing private EVS were canceled is an indication of the seriousness of Germany’s budget crisis only a few days earlier the German government had said it would not continue the subsidy in
2024 at the previously agreed reduced rate of €3,000 by canceling the subsidy now instead of at the end of the year the government effectively prevents the private Market to go on an EV buying binge saving itself the subsidies would otherwise have had to pay out so this will have serious effects for Germany’s
Push towards electrification and will compound the already sluggish demand for EVS that’s affecting not just Europe but the whole world to paraphrase Margaret Thatcher the trouble with green subsidies is that you eventually run out of other people’s money so that’s just about it for this one thanks very much
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