Germany may introduce tax breaks to cushion the effect of the coronavirus should...
BERLIN - Germany may introduce tax breaks to cushion the effect of the coronavirus should the epidemic worsen, Economy Minister Peter Altmaier said on Thursday, adding that the impact so far on Europe’s largest economy was fairly limited.
On Wednesday, Health Minister Jens Spahn said it was already impossible to trace all paths of infection in Germany, and he urged regional authorities, hospitals and employers to review their pandemic planning. Chancellor Angela Merkel’s conservatives have long resisted calls at home and abroad to spend more, despite record-low borrowing costs and an economy that is close to recession.
Weekly paper Die Zeit reported on Wednesday that Scholz planned to temporarily suspend the country’s debt brake to achieve this. “The conservatives won’t support this. Scholz is throwing down the gauntlet,” a parliamentary source added.
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