Germany's Economic Leap: A Bold Tax Relief Initiative
Germany's upper house of parliament has approved a €46 billion tax relief package to boost its sluggish economy. The measures include incentives for companies and electric car purchases, and a gradual reduction in corporate tax rates. Economic output is predicted to grow, creating thousands of new jobs.

Germany is taking significant steps to boost its economy, with the upper house of parliament approving a €46 billion tax relief package designed to benefit companies and stimulate growth. Key measures include favorable depreciation options for businesses and incentives for electric car purchases.
Finance Minister Lars Klingbeil emphasized the package's potential to spur investment and improve Germany's competitive edge on the global stage. The package promises a gradual reduction in corporate tax rates, aiming for a 10% rate by 2032.
The Cologne Institute for Economic Research predicts the measures will boost economic output by €29 billion and create up to 39,000 jobs by 2029. The government anticipates an increase in state revenues as growth is revitalized, supporting further investments in education and healthcare infrastructure.
(With inputs from agencies.)
ALSO READ
Defamation Drama: Finance Minister Faces Legal Challenge
Finance Minister Urges PSBs to Capitalize on RBI's Rate Cut
Finance Minister Sitharaman Pushes PSBs to Drive Financial Inclusion and Green Lending
Finance Minister's Strategic Diplomacy Tour: Strengthening Global Economic Ties
Row Over Land Reclamation and Job Creation Intensifies in Telangana