German economy minister suggests corporate tax reform

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<span>© Reuters. German Economic Affairs and Climate Action Minister Robert Habeck speaks during a session of the lower house of parliament, the Bundestag, in Berlin, Germany February 1, 2024. REUTERS/Liesa Johannssen/File Photo</span><br />
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<p>FRANKFURT (Reuters) &#8211; German Economy Minister Robert Habeck has floated the idea of a reform of the country&#8217;s corporate taxes as one way to take pressure off companies that are facing numerous challenges, including high energy costs.</p>
<p>&#8220;I also see that we have an overall corporate taxation that is no longer competitive and conducive to investment,&#8221; Habeck told weekly Welt am Sonntag.</p>
<p>&#8220;This is precisely why we should consider how we can, for example, finance tax relief, tax incentives for investments in the future,&#8221; he said, adding that would be a way to unleash economic forces.</p>
<p>Habeck said that the government was constrained by what he called &#8220;extremely tight financial leeway&#8221;, pointing to savings pressure with regard to Germany&#8217;s 2025 budget.</p>
<p>His comments come after Finance Minister Christian Lindner called for a package of measures to strengthen the economy, including increased flexibility on the labour market, less red tape as well as tax incentives as part of a corporate tax reform.</p>
<p>&#8220;I agree with Christian Lindner. We need to do more for growth and economic dynamics,&#8221; Habeck said, adding he was working together with Lindner on a reform package. </p>
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