BERLIN (Reuters) -Germany’s economy ministry has promised tax incentives and relief for industry and businesses worth around 50 billion euros ($53.24 billion) over the next four years, according to a new industrial strategy.
Small and medium-sized businesses in particular would benefit from the relief, the ministry said in a paper seen by Reuters.
The strategy is part of Germany’s efforts to support domestic industry in the face of high energy costs and the draw of incentive programmes in countries such as the United States.
“The strategy has a clear guiding principle: Germany should remain a strong industrial location including in times of upheaval and at the same time remain an important location for future industries,” said Economy Minister Robert Habeck in the paper.
Habeck will present the strategy later on Tuesday.
($1 = 0.9391 euros)
(Writing by Miranda Murray, Editing by Friederike Heine and Rachel More)
