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Companies team for technologies
BERLIN, March 17 (UPI) -- German Chancellor Gerhard Schroeder is offering corporate tax cuts of up to 25 percent to help send the nation's 5.2 million unemployed back to work.
His plan, announced in the German Parliament Thursday, was seen as an attempt to pre-empt his critics, the BBC reported.
Germany, where companies pay the highest taxes in Europe, currently is burdened by a 12.6 percent jobless rate. These issues have become politically very sensitive, the BBC said.
"This packet of measures is wise and desirable given the huge risks posed by international crises and external economic factors," Schroeder told Parliament.
Schroeder said the proposed measures would be fiscally neutral because he would find the extra money by closing existing tax loopholes. The plan needs the approval of the opposition, which has a majority in the German Parliament's upper house.
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