German Finance Minister Christian Lindner wants to provide a billion-dollar package to relieve companies financially. This billion-dollar package will, among other things, ease tax rules in order to stimulate economic growth. This reports Der Spiegel.
A Treasury Department spokesman said Lindner is considering a relief package, but the size and intensity of the measures have yet to be determined and billions in aid are not yet secured.
Der Spiegel also reports that Lindner wants to lower taxes on private company profits and introduce tax breaks for companies investing in climate protection. The German minister will present his plans in March.
Support package
The relief package would come to be known as the Enhancement of Competition Act and could consist of two parts. Where the first part mainly comprises tax breaks, etc., the second part is intended to fund research.
Europe’s largest economy contracted in the fourth quarter of 2022 and the German economy is expected to grow by just 0.2% this year.
Source: BNR
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