Scholz promises 65 bn euros to shield Germans through tough winter

Package funded through additional tax revenue; Scholz promises welfare state will shield Germany from turmoil

Germany will spend at least 65 billion euros ($64.7 billion) on shielding customers and businesses from soaring inflation, Chancellor Olaf Scholz said on Sunday, two days after Russia announced it was suspending some gas deliveries indefinitely.

The measures, agreed after 22 hours of talks between the three coalition parties, included benefit hikes and a public transport subsidy, to be paid for from a tax on electricity companies and by bringing forward Germany's implementation of the planned 15% global minimum corporate tax.

Russia's invasion of Ukraine in February has led to inflation worldwide and prompted warnings of social and economic turmoil