Berlin: Germany has decided to tighten laws against big business to curb profiteering.
According to the international website, the German Minister of Economy has decided to tighten the laws against business giants, taking steps to empower the authorities to end the monopoly by setting uniform prices for goods. Taxes will be able to stop profiteering companies in a timely manner.
The move comes amid growing criticism of the government’s efforts to reduce petrol prices for German consumers.
Since the start of Russia’s war against Ukraine, gas prices have risen sharply in Germany as well as around the world, with all five major car fuel companies raising fuel prices evenly.
In this context, despite the reduction of taxes on petrol and diesel by the German government for 3 months from June 1, its benefits did not reach the general consumers.
A three-month tax cut on fuel prices would cost German taxpayers more than 3 3 billion and result in a reduction in gas station prices by up to 0. 0.37 per liter in principle. This did not happen.
Many critics, including the German economy minister, have accused Germany’s major oil companies of taking advantage of tax havens.
It is clear that tax breaks on fuel prices are considered a bad decision, so the two parties in the German ruling coalition, the Green Party and the Free Democrats, have blamed each other for the issue.
Economy Minister Bebek belongs to the Green Party, while Finance Minister Christian Lindner leads the Free Democrats. Bebek is now using the current situation to reform anti-monopoly laws.
The main purpose of their reforms is to allow the authorities to intervene in the markets controlled by a few large companies, even if there are no breaches of competition law.
According to the German Ministry of Economy, it is almost impossible to prove that some companies have agreed to increase fuel prices by collusion.
On the other hand, experts believe that some companies may be forced to partially close their businesses as a result of Bebek’s drastic reforms.
Another important point of Bebek’s plan is to reduce the legal hurdles that are required to prove additional profiteering against companies. Providing evidence of profiteering against these companies is a complex process.
The third part of Bebek’s plan is to expand and make the investigation more effective, as well as to allow the authorities to draw up new rules for direct investigations against monopolies.
In addition, local civil society has praised the German minister’s aforementioned measures, with civil society representatives saying the measures will help deter companies that violate consumer rights, which will directly benefit consumers.
