Germany Takes a Bold Step Towards Economic Revival

The Bundesrat, Germany's upper parliamentary chamber, has given its approval to a groundbreaking €46 billion tax-break package. This move, championed by Chancellor Friedrich Merz, aims to inject vitality into the nation's stagnant economy.

Key Measures to Spark Growth

Among the package's highlights are a significant reduction in the corporate tax rate from 15% to 10%, a generous 75% depreciation allowance for electric vehicle purchases, and a cap on rents at 10% above the local average in selected regions. Additionally, the plan earmarks increased funds for defense spending.

A Message of Hope and Competitiveness

"This package is our pledge to make Germany attractive and competitive once again," Merz declared, emphasizing the urgency of these measures after over two years of economic stagnation.