Sunday, October 25, 2009

New German govt to cut taxes

"The burden on familes has to be lessened, the burden on companies and inheritance tax has to be reformed," said Merkel, who won a second term in elections last month at the head of a new coalition.

"We have agreed a coalition programme showing that we want to advance courageously into the future," Merkel said. "We are aiming for growth, for the creation of an education republic and social cohesion."

In the election Merkel ditched her previous coalition partners for the last four years, the centre-left Social Democrats, in favour of the pro-business Free Democrats (FDP).
Three weeks of hard bargaining between the parties wrapped up in the early hours of Saturday morning. Officials said earlier that the new coalition planned 24 billion euros (36 billion dollars) worth of tax cuts.