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Germany gets a new stimulus package
India's News.Net
Tuesday 13th January, 2009
Germany's ruling coalition has announced a new economic stimulus package worth 50 billion euros.
Chancellor Angela Merkel's conservatives and their Social Democrat partners have agreed to investment spending and tax cuts to help Europe's largest economy through what may be its worst post-war recession.
During six hours of negotiations, the parties managed to set aside differences on tax relief measures, the final sticking point.
The focal point of the investment program will be in infrastructure projects, education and incentives worth 2,500 euros for new car purchases.
They also agreed to one-off payments worth 100 euros to families for every child in Germany.
The entry level tax rate will go down slightly by one point to 14 per cent while tax-free thresholds will be raised slightly.
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