Germany’s opposition Christian Democrats are due to approve a package of radical economic reforms at their party conference this week which will include proposals to significantly change the tax system.
Amongst the proposals on the taxation front put forward by the CDU is the introduction of three bands of income tax between the rates of 12% and 36% as part of a general simplification of Germany’s complicated tax code. Plans to axe many tax breaks were also announced.
Whilst the party is not thought to be fully united behind the plans, should the CDU be elected and carry out its plans, it could mean a fundamental shift in direction for the country’s economic and social policy according to Karl-Rudolf Korte, a political scientist at Duisburg University. "One should not underestimate what these changes would mean - a shift from the Social Democrats' focus on fairness to a focus on freedom of choice", the Financial Times quoted Korte as observing.
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