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)

To discuss issues facing the chemical industry go to ICIS connect

By: Hilde Ovrebekk
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index