April 24, 2024

Germany Preparing €7 Billion Tax Package to Prop Up Economy

Germany’s ruling coalition is stitching together a package of measures likely worth around €7 billion ($7.6 billion) to try to lift Europe’s largest economy out of a prolonged slump, according to people familiar with the planning.

Chancellor Olaf Scholz’s government wants to have the package — which would reduce the tax burden on companies — ready in time to secure parliamentary approval before the summer break, said the people, who asked not to be identified discussing confidential negotiations.

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