Arab Today, arab today german expectations of tax cuts \are unrealistic\
Last Updated : GMT 23:13:34
Arab Today, arab today
Arab Today, arab today

German expectations of tax cuts \'are unrealistic\'

Arab Today, arab today

Arab Today, arab today German expectations of tax cuts \'are unrealistic\'

Frankfurt - Arabstoday

German Finance Minister Wolfgang Schaeuble warned coalition colleagues that the government could not afford to lower taxes, telling a German newspaper that cuts of up to €10 billion (Dh52.12 billion) were unrealistic. \"I\'m somewhat unhappy about the public debate, which creates the impression we have a lot of leeway for tax cuts we don\'t,\" Schaeuble said in an interview with Sunday paper Bild am Sonntag. \"I would recommend everyone not to conduct debates that raise expectations and only lead in the end to big disappointment.\" Philipp Roesler, the new 38-year-old Economy Minister and Vice-Chancellor, has reignited efforts to cut income tax, a key platform for his junior coalition partner Free Democrats, who are floundering in the polls. Even if Chancellor Angela Merkel\'s government were to propose tax cuts, though, it would almost certainly require the support of the upper house of parliament, which is controlled by the opposition. Schaeuble backed up his scepticism by saying the government was still \"far off\" from conforming with the constitutional debt brake amendment, which requires a budget deficit of 0.35 per cent of output by 2016. \"We have huge tasks ahead. The change in energy (away from nuclear) will mean additional costs, and we need to start making provisions for the European Stability Mechanism beginning in 2013,\" he said. Schaeuble did signal a certain willingness to discuss changes to Germany\'s tax brackets, which are not automatically increased in line with inflation as in many other countries. As a result, taxpayers receiving a cost of living adjustment can for example end up with less in their pockets once adjusted for a rise in consumer prices. The German taxpayers association calculates that the so-called \"cold progression\" in taxes disproportionately hurts lower income households and can easily constitute the bulk of additional taxes paid. Separately, the conservative premier of Bavaria pushed for measured tax cuts in comments made to German weekly magazine Focus. \"There will be further tax cuts in the current election period (ending in late 2013), but in tune with the economy and without jeopardising budget consolidation,\" said Horst Seehofer. Focus reported without citing sources that the coalition was considering replacing the fixed-rate \"Solidarity Charge\", which adds a 5.5 per cent levy onto the amount of income taxes paid, with a sliding scale that starts at 1.3 per cent while also raising the exemption limit. Introduced after reunification to help rebuild the East German economy, the solidarity charge is one of the few taxes that only fills the coffers of the federal government. As a result, changes can be passed without requiring the approval of the Bundesrat, the upper house of parliament representing the 16 federal states. From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german expectations of tax cuts \are unrealistic\ Arab Today, arab today german expectations of tax cuts \are unrealistic\

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german expectations of tax cuts \are unrealistic\ Arab Today, arab today german expectations of tax cuts \are unrealistic\

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday