German finance minister offers tax incentives to private firms
German Finance Minister Lars Klingbeil on Tuesday promised tax incentives to encourage private investments in the country’s struggling economy.
Speaking at the Eastern German Economic Forum in Bad Saarow, south-east of Berlin, Mr Klingbeil said that the new government was planning to introduce a package to boost investment before the summer break, echoing comments by Economy Minister Katherina Reiche on Monday.
As outlined in the coalition agreement between his Social Democrats (SPD) and Chancellor Friedrich Merz’s conservative bloc, Mr Klingbeil said companies would be allowed to write off 30 per cent of their investments from tax over the next three years.
The finance minister said corporate taxes would also be reduced.
The measures for the private sector are to be accompanied by a massive package of government spending on infrastructure, based on a €500 billion ($560 billion) fund passed in parliament earlier this year.
“We will invest a great deal in research, development and infrastructure over the next few years,” said Mr Klingbeil.
The SPD co-leader cited funding for roads, railways, day care centres, fast internet, additional living space and cheap and climate-friendly energy.
He noted that Mr Klingbeil would present his draft budget for 2025 to the new cabinet on June 25.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Tinubu advised me never to negotiate with criminals, Gov Ododo says
“I don’t play with criminals, and I don’t negotiate with them. I can tell you that, as far as Kogi State is concerned, we don’t have a department for ransom payment,” he said.
Heading 1
U.S. has spent $37.5 billion on Iran war: Hegseth
“The estimate we have as of today is $37.5 billion,” Mr Hegseth said.
Lagos
Slain Lagos NURTW organising secretary buried amid tears
Mr Ajiboye died days after he was attacked by gunmen.
Africa
144 refugees, migrants dead, missing off Mauritania coast: UNHCR
“The refugees and migrants were reported dead or missing after attempting the perilous sea journey from West Africa towards Europe,” the agency said.
World
U.S. govt condemns Ortega’s ban on elections in Nicaragua
Mr Rubio urged the international community to rise against Mr Ortega’s dictatorship.
World
Zelensky sacks Ukraine’s top general after firing defence minister
Mr Syrskyi’s dismissal came days after Mr Zelensky fired Ukraine’s defence minister, Mykhailo Fedorov, a decision that sparked protests across the country.
