Every German ‘could get €500 gift voucher’

Every German 'could get €500 gift voucher'
Photo: DPA
The German government is considering giving the country's consumers €500 vouchers to stimulate the flagging economy, financial daily Handelsblatt reported on Tuesday.

Unnamed government sources told the paper that the administration is considering issuing the vouchers if a recent economic growth package turns out not to be enough.

“If the measures that have been decided aren’t enough, we will support the economy with billions more,” the source told Handelsblatt, adding that there is debate over adding another €15 billion to stimulate the economy.

In the wake of the global financial crisis, the German government has cut taxes and announced infrastructure spending worth more than €32 billion to jumpstart its economy, but is still under pressure to do more.

A finance ministry spokesperson told news agency AFP on Tuesday that the voucher report was “nonsense.”

Handelsblatt reported that the German government will not officially decide whether to issue the vouchers until next year, after it has seen whether the current economic growth packet is enough to ward off the effects of the financial crisis. Chancellor Angela Merkel announced yesterday that the government’s program will be confirmed in January.