Return to Transcripts main page

CNN Live Today

In Germany, Government Announces It's Delaying Planned Tax Cut to Help Cover Damage Caused by Floods

Aired August 19, 2002 - 13:47   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

CAROL LIN, CNN ANCHOR: In Germany, the government announced today it is delaying a planned tax cut to help cover the damage caused by the floods. It is expected to be the country's most extensive and expensive relief effort since World War II.
CNN's Michael Holmes is in the German city of Dessau, where a number of residents today flee their homes last night -- Michael.

MICHAEL HOLMES, CNN CORRESPONDENT: That's absolutely right, Carol.

What you are looking at now is a bit of a shift change as the good people of Miltze (ph) swap over responsibilities of sandbagging here. What you see there, that water there, should not be there.

We are five kilometers from the river, and yet you see the floodwaters. We are also standing on a levee, a dike, and if the water breaks through here, as they fear it will, then that's why they are here, it will go across farmland, but also significantly cut off the main highway to Dessau. Very important.

These dikes have been failing in a number of places, and flooding towns. However, it's fair to say that the water is receding. It is starting to stabilize, even if the worst places, and starting it fall back, but of course that's just uncovering a whole mess of damage. And as you said, tax cuts have been delayed. The German government announcing after a cabinet meeting a couple hours ago $6.9 million would be doled out to help those who suffered from these unbelievably catastrophic floods -- Carol.

LIN: Thank you very much, Michael Holmes, reporting from Dessau there.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com