Germany closed the last nuclear plants.

Germany has taken a bold step towards renewable energy by shutting down its last nuclear power plant. The decision was met with objections from Bayern, but the German government remained firm. This move is part of Germany's commitment to transitioning to sustainable energy sources and reducing its carbon footprint. While some argue that nuclear energy is a cleaner alternative to fossil fuels, the potential risks associated with it far outweigh any benefits. Germany prioritises the safety and well-being of its citizens and the environment by eliminating nuclear power plants. The country has already made significant progress in developing renewable energy sources such as wind and solar power, and this latest action only reinforces its dedication to a sustainable future.

In addition to shutting down nuclear power plants, Germany has implemented several policies and initiatives to promote renewable energy. One such policy is the Renewable Energy Sources Act (EEG), which was first introduced in 2000 and updated in 2017. This act provides financial incentives for individuals and businesses that generate renewable energy, such as solar panels or wind turbines. It also requires utility companies to purchase excess renewable energy from these sources at a fixed rate, ensuring that small-scale producers can access the grid and earn a fair price for their contributions.

www.sba.tax

Comments

Cloud Bookkeeping

US FED rate rise.

The US Federal Reserve officials have indicated that they plan to resume increasing interest rates to control inflation in the world's biggest economy. During the June meeting, the Federal Open Market Committee reached a consensus to keep interest rates stable for the time being to evaluate whether further tightening of policy would be necessary. However, the majority of the committee anticipates that additional rate increases will be required in the future. The minutes of the meeting have recently been made public. According to the minutes, most participants believed maintaining the federal funds rate at 5 to 5.25 per cent was appropriate or acceptable, despite some individuals wanting to raise the acceleration due to slow progress in cooling inflation. Although Fed forecasts predicted a mild recession starting later in the year, policymakers faced challenges in interpreting data that showed a tight job market and only slight improvements in inflation. Additionally, officials gr...

EU business slide.

S&P Global’s flash eurozone composite purchasing managers’ index, a key gauge of business conditions for the manufacturing and services sector, fell 1 point to 47.1, figures showed yesterday. That is its lowest level since November 2020 and the fourth consecutive month below the crucial 50 mark separating growth from contraction. One of the few bright spots in the survey was that companies in all sectors reported a slight easing of cost pressures, price growth and supply chain constraints. However, prices charged for goods and services still rose at the sixth fastest rate since such data started in 2002. Jobs growth increased marginally from October but remained low compared with the past 18 months. Following a few months of falling price pressure in manufacturing and services, the October print shows an overall stabilisation said Jens Eisenschmidt, chief European economist at Morgan Stanley. However, German businesses, at the hub of Europe’s energy crisis, reported that manu...

EU debt reduction

Brussels wants to give EU capitals extra time to curb their debts and create space for public investment as part of an overhaul of the EU’s deficit rules . The European Commission would table a proposal at the end of the month to reform the Stability and Growth Pact , under which it would work out multi-year , country-specific plans with capitals for getting their debt burdens under control , EU officials said . The proposals come as member states face mounting fiscal burdens as they spend hundreds of billions of euros sheltering businesses and households from the energy crisis . Under the new blueprint , the commission would propose a four- or five-year plan to an EU member state to get its public debt burden on a credible , downward trajectory , officials said . The national fiscal plan would need to pass a debt sustainability analysis and be approved by the commission and EU council . The new regime would ditch an EU ...

Search This Blog