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Germany agrees 32 bln euro tax cuts to give economy 'big boost'
(www.reuters.com)
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this post was submitted on 30 Aug 2023
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This is the best summary I could come up with:
MESEBERG, Germany, Aug 29 (Reuters) - Germany's coalition on Tuesday set aside weeks of squabbling to agree to a total of 32 billion euros ($34.63 billion) in corporate tax cuts over four years to boost the flagging economy.
"We'll discuss how to achieve a big boost," Chancellor Olaf Scholz said at the start of a two-day cabinet retreat at Schloss Meseberg, a baroque castle outside Berlin.
An agreement was reached on Tuesday when the two sides agreed to cut the planned Child Basic Insurance to just over two billion euros.
A poll by Forsa published on Tuesday found 61% of respondents were so annoyed by coalition squabbling that they no longer paid attention to policy.
A government document seen by Reuters showed subsidies are set to almost double to 67.1 billion euros next year compared to 2021.
Almost two thirds of those subsidies are designed to help finance the green transition to a lower carbon economy.
The original article contains 414 words, the summary contains 156 words. Saved 62%. I'm a bot and I'm open source!
The fact that corporate tax cuts are still on the table in 2023 makes me very sad
Germany has a lot of money, the tax cuts are not the problem here. The problem is that it's not well spend. We have to subsidize coal and power because former governments failed to develop cheaper alternatives, especially renewables which are way cheaper by now.