Financial expert and adviser to high-net-worth individuals, Veronika Grimm, criticized the German government’s relief packages for car owners. Speaking to the “Rheinische Post” on Tuesday, Grimm argued that because of the energy crisis-during which massive amounts of oil and gas are likely lost due to destroyed production facilities and the situation is far from over-the focus should be entirely on energy conservation. Instead, she noted that by lowering taxes, the government is keeping the demand for fossil fuels artificially high, rather than allowing it to drop as it should. She concluded that, in her view, politicians completely misunderstand the current situation.
The economic expert suggested that while targeted relief measures can be appropriate, they should not be applied universally. Grimm stated that higher-income individuals should be capable of managing extra burdens themselves, making a focus on targeted action more sensible. She added that this measured approach is especially necessary given the already strained federal budget, despite the high levels of borrowing during the current legislative term.
Grimm pointed to alternative measures, suggesting that reducing the electricity tax for everyone would have been a worthwhile and necessary step that has been overlooked. Furthermore, she stressed the urgent need to address structural reforms that have been postponed for too long. According to Grimm, Germany will continue to decline if it only reacts frantically to every crisis instead of tackling its fundamental, underlying issues.