Industry leaders oppose Merkel's plan for Germany nuclear tax

20 August 2010 11:25  [Source: ICIS news]

LONDON (ICIS)--German industry leaders, including BASF’s CEO Jurgen Hambrecht, have signed an open letter opposing Chancellor Angela Merkel’s plans to tax nuclear power providers, a company spokesman said on Friday.

“We are concerned about the plans for the future energy supplies in Germany,” the spokesman said.

The German government said in June that it would levy €2.3bn ($2.9bn) a year from the nuclear industry from 2011 to help cut the budget deficit.

Industry heads, utility companies, as well as members of Merkel’s Christian Democrats, have critisised the plans for a nuclear tax on the basis that it would hamper future industrial investments in the country.

Among the signatories were Deutsche Bank chief executive Josef Ackermann, as well as the heads of state-owned rail operator Deutsche Bahn, steelmaker ThyssenKrupp, retailer Metro, and utility companies E.On, RWE, EnBW and Vattenfall, according to news agency Reuters.

The government, which had planned to finalise the levy in talks with utility companies by 1 September, said this week that it had postponed the decision on the tax until the end of next month.

The letter is due to be published on Saturday, said the BASF spokesman.

($1 = €0.78)

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By: Hilde Ovrebekk
+44 20 8652 3214



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