The German economy was set to stay on a path of growth this year, with a slight spring dent no big cause for alarm, the Bundesbank said in its latest monthly report on Monday. It noted that the mood among executives across Europe’s powerhouse had improved considerably in recent weeks as worries over the UK’s pro-Brexit vote abated. The central bank appeared confident that private consumption would once again be a pillar of economic expansion in the third quarter, following 0.4-percent growth in the previous three months. Record-low interest rates put Germany in a position to obtain ultra-cheap loans, if it needs them. The Bundesbank emphasized, though, that it expected Berlin to do without fresh borrowing in 2016 once again and log a budget surplus as envisaged by Finance Minister Wolfgang Schäuble. Get more, work longer The central bank said full coffers should be used to reduce people’s tax burden, specifically mentioning the possibility of lowering employment insurance tax. It argued that consumers would have more money in their pockets to spend and fuel the economy. But the Bundesbank also warned that the current retirement age had to be raised to ensure the future viability of the pension system, with… Read full this story
- RBI Policy: Analysts see room for more rate cuts to boost economy
- Philippines has room to gradually cut income tax on businesses — IMF paper
- Can Canada fight climate change without a carbon tax?
- Trump’s proposed tax cut would mostly benefit wealthier Americans because of the way rich people make their money
- How US tax reform rewards companies that shift profit to tax havens
- No overreaching tax break as budget targets specific groups
- Egalitarian Sweden getting more unequal as tax cuts help the rich
- Malaysia Reviewing Palm Oil Export Taxes Amid Bulging Stockpiles
- Lib Dem president will withdraw party's support for bedroom tax
- GST Council hikes tax on caffeinated beverages, cuts rates on hotel tariffs
Bundesbank sees room for tax reduction have 314 words, post on www.dw.com at August 15, 2016. This is cached page on X-Buy. If you want remove this page, please contact us.