The German cabinet agreed on Wednesday to implement a capital gains tax of 15%, which will be levied on sales of shares from February next year.
Reuters reported that the decision to support Finance Minister, Hans Eichel's controversial proposal came as public dissatisfaction with the government's handling of the economy reached fever pitch, with German business representatives and media commentators alike coming out in strong opposition to the move.
ZDH, an organisation which represents SMEs and skilled craftsmen, announced on Wednesday that as a result of sluggish economic growth and falling tax revenues, it expects around 300,000 jobs to be lost this year in its sector, with potentially between 100,000 to 300,000 more posts being cut next year.
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