German Chancellor Friedrich Merz’s ruling coalition has unveiled a package of reforms aimed at reviving Europe’s largest economy. The reforms include €10 billion in annual tax relief for lower-income earners, changes to the pension system, and building more affordable housing.
Reform Details
The tax relief will be mainly funded by raising the top rate of tax to 47% from 45% for the highest earners with an annual income of €280,000 or more. The reforms also include an action plan against benefit fraud and abolishing workers’ ability to obtain sick notes by phone.
The German government has faced heavy pressure to pass reforms to boost the economy, which has been struggling in recent years. The reforms are seen as a key step towards getting Germany’s economy back on track.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
