Europe's largest economy has flatlined recently, showing no signs of recovery from a winter recession. The International Monetary Fund has predicted Germany will be the only major advanced economy to shrink in 2023.
While Germany’s coalition parties have hesitated over the extent of the country’s tax cuts, the economy has remained static.
The conflict has seen German energy prices surge, after Berlin’s reliance on Moscow for gas was brought to a halt.
“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.
The tax cuts are part of a 10-point program and intended to kickstart economic growth whilst making sure companies made the decision to invest in Germany, Scholz said.
The plan includes a premium for energy-saving investments, as well as rule changes to make it easier for companies to write off losses.
As Germany boosts spending, some critics fear that without a new European Union green fund, only larger economies with more fiscal power will be able to push ahead with national subsidies, leaving smaller countries behind.
The original article contains 282 words, the summary contains 144 words. Saved 49%. I’m a bot and I’m open source!
This is the best summary I could come up with:
While Germany’s coalition parties have hesitated over the extent of the country’s tax cuts, the economy has remained static.
The conflict has seen German energy prices surge, after Berlin’s reliance on Moscow for gas was brought to a halt.
“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.
The tax cuts are part of a 10-point program and intended to kickstart economic growth whilst making sure companies made the decision to invest in Germany, Scholz said.
The plan includes a premium for energy-saving investments, as well as rule changes to make it easier for companies to write off losses.
As Germany boosts spending, some critics fear that without a new European Union green fund, only larger economies with more fiscal power will be able to push ahead with national subsidies, leaving smaller countries behind.
The original article contains 282 words, the summary contains 144 words. Saved 49%. I’m a bot and I’m open source!