Germany's coalition on Tuesday set aside weeks of squabbling to agree to a total of 32 billion euros ($34.63 billion) in corporate tax cuts over four years to boost the flagging economy.
  • kibiz0r@midwest.socialEnglish
    68·
    1 year ago

    Give cheap commercial debt to corpos in boom years, forgive their public debts in bust years. Call the whole thing “growth”. What could go wrong?

    • AggressivelyPassive@feddit.de
      37·
      1 year ago

      No, they actually do care about debt, but they decided to save money where Germany already has too little: social security for children and digitization.

      • Pechente@feddit.deEnglish
        13·
        1 year ago

        Yeah that digitization part upsets me. Everything in Germany is done by snail mail and lots of businesses don’t accept card payments. The fastest internet I can get in the middle of the city is DSL with 100 MBit/s.

        Germany is doing worse than most developing countries in this regard and few people here seem to bother.

        • RBG@discuss.tchncs.de
          11·
          1 year ago

          I know you probably did not mean it like that, but it is funny that between cutting social security for children and digitisation it is the digitisation that upsets you.

  • AutoTL;DR@lemmings.worldBEnglish
    9·
    1 year ago

    This is the best summary I could come up with:

    MESEBERG, Germany, Aug 29 (Reuters) - Germany’s coalition on Tuesday set aside weeks of squabbling to agree to a total of 32 billion euros ($34.63 billion) in corporate tax cuts over four years to boost the flagging economy.

    “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.

    An agreement was reached on Tuesday when the two sides agreed to cut the planned Child Basic Insurance to just over two billion euros.

    A poll by Forsa published on Tuesday found 61% of respondents were so annoyed by coalition squabbling that they no longer paid attention to policy.

    A government document seen by Reuters showed subsidies are set to almost double to 67.1 billion euros next year compared to 2021.

    Almost two thirds of those subsidies are designed to help finance the green transition to a lower carbon economy.

    The original article contains 414 words, the summary contains 156 words. Saved 62%. I’m a bot and I’m open source!