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Deutsche Bahn sees big windfall from climate change package

Deutsche Bahn sees big windfall from climate change package

9/22/2019 9:25:00 PM

Deutsche Bahn sees big windfall from climate change package

Germany 's Deutsche Bahn [DBN.UL] expects the government's 50 billion e...

FILE PHOTO - Trains of German railway Deutsche Bahn arrive at the main train station in Frankfurt, Germany, March 27, 2019. REUTERS/Kai PfaffenbachBERLIN (Reuters) - Germany’s Deutsche Bahn [DBN.UL] expects the government’s 50 billion euro climate change package to generate the railway company’s biggest growth spurt in its 180-year history, the state-owned firm’s boss said on Sunday.

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In a telephone press conference, Richard Lutz said the measures announced on Friday, including a cut in value-added tax (VAT) on train tickets, would give it an additional 20 billion euros in revenue by 2030.Although the package, in response to growing public concern about the impact of climate change, disappointed climate activists, individual measures such as surcharges on domestic flights and the VAT cut are expected to have an impact on the companies concerned.

“We are now on the attack and rebuilding,” he said. Europe’s railway companies are expected to be major beneficiaries of a shift away from car and air transport toward public transportation offerings that emit proportionally less carbon.The company planned to buy 30 new high-speed trains by 2023 to cater for the expected growth in passenger numbers, a one billion euro bonanza for train-building companies.

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U.S. health chief arrives in Taiwan on trip condemned by China

U.S. Secretary of Health and Human Services Alex Azar arrived in Taiwan on Sunday as the highest-level U.S. official to visit in four decades, a trip condemned by China which claims the island as its own, further irritating Sino-U.S. relations.

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