in the face of declining economic performance in the third quarter, the German economy Minister, Peter Altmaier (CDU) has provided tax relief in view. Altmaier announced to especially want to relieve it. “We need clarity about relief for workers and the economy, such as the gradual complete solos-removal for all, less bureaucracy and more Innovation,” said the CDU politician in the world on Sunday.
The German Federal Statistical office announced on Wednesday, mainly due to the decline in exports, Germany’s gross domestic product (GDP) had decreased compared to the previous quarter by 0.2 percent. It was the first decline since the beginning of 2015. One reason for the weak Export. According to preliminary calculations, there were in the third quarter of 2018, less exports but more imports than in the second quarter of the year. Germany as an exporting nation is suffering seems to be increasingly under the trade conflicts, the trigger, especially the United States.
Altmaier, criticized corporate tax in Germany “is now higher than in other large industrial countries such as USA, UK and soon France”. This is a disadvantage and dangerous jobs. A Lowering of the corporate income tax was therefore “necessary in the medium term”. Altmaier proposed to use revenue from the taxes in half for relief. Further, it must be ensured that “social contributions will rise not more than 40 percent of the gross wage”.
President of the ifo Institute, criticized the Federal government
so Far, the SPD and the German Finance Minister, Olaf Scholz, against tax cuts for companies Balk. The FDP Opposition in the Bundestag go Altmaiers proposals, however, does not go far enough. The FDP budget expert Otto Fricke called for more investment and “a spending reversal in the trend, away from the output expansion in the social sector, to real investments in the future in the areas of education, research, digitization, and infrastructure”.
the President of The Munich ifo Institute, Clemens Fuest, criticized the growth policies of the Federal government. In the past few years, it had failed to use policy to strengthen the forces of Growth in this country. “New kindergarten places are needed, but the policy should not call this as an investment, when you stretch at the same time, important infrastructure investments in rail or power lines failed,” he told the world on Sunday.
the President of The Federal Association of medium-sized economy, Mario Ohoven, welcomed the Statements Altmaiers, however, to bear in mind that in the coalition agreement of which stand for nothing. “Altmaier and the Union should present concrete plans for a tax reform and the coalition partner SPD to enforce,” he said. “Otherwise, it is to follow lots of announcements, which did not help the German economy in the global competitive situation.”