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Finance Ministry Plans €6.3-Billion Tax Break for Germans

Thursday, October 6, 2016 8:23
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(Before It's News)

Finance Minister Wolfgang Schäuble plans to cut German taxes by €6.3 billion ($7.1 billion) annually to stimulate domestic demand and counter international criticism that Germany’s export-oriented economy has contributed to a global trade imbalance, Handelsblatt has learned.

Mr. Schäuble will present his tax plans to his foreign counterparts at the upcoming annual meeting of the International Monetary Fund in Washington, a senior finance ministry official told Handelsblatt. The tax breaks are intended to “support domestic demand,” the source said ….

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