Schaeuble hints at corporate tax cuts to fend off foreign competition

Record ID: 896455

  • Title: Schaeuble hints at corporate tax cuts to fend off foreign competition
  • Date: 21st June 2017
  • Summary: BERLIN, GERMANY (JUNE 21, 2017) (REUTERS) VARIOUS OF GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE ARRIVING TO DELIVER SPEECH AT REAL ESTATE CONFERENCE (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE, SAYING: "I expect there will be a need to take action on corporation tax in coming years because in some countries, from the U.S. to Britain, but also in other continents, there are many considerations where we can't simply say we'll ignore them." SIDE SHOT OF SCHAEUBLE ON PODIUM (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE, SAYING: "Together with France we are currently making a new effort to find a new way for corporate tax and I said early on that once we have the automatic information exchange on interest income starting at the end of this year or early next year that we must deal with the issue of settlement tax." PAN FROM CEILING TO AUDIENCE (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE, SAYING: "We will promote home ownership during the election campaign and then if we win (the September election) home ownership and the promotion of families will be connected in a suitable manner." AUDIENCE LISTENING (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE, SAYING: "The independence of central banks and the independence of monetary policy is a key achievement especially of Germany and during its post-war history. We have always fought for decisions to be taken independently from monetary policy but that of course does not mean you can act without considering overall economic correlations or possible risks." APPLAUSE FOR SCHAEUBLE SCHAEUBLE SHUFFLING PAPERS / WIDE OF STAGE
  • Embargoed: 5th July 2017 15:40
  • Keywords: Schaeuble
  • Location: BERLIN, GERMANY
  • City: BERLIN, GERMANY
  • Country: Germany
  • Topics: Budget/Taxation/Revenue,Government/Politics
  • Reuters ID: LVA0016M7ZJIL
  • Aspect Ratio: 16:9
  • Story Text: Germany will likely need to make changes to its corporation tax system in coming years in response to growing tax competition from other countries, Finance Minister Wolfgang Schaeuble said on Wednesday (June 21), adding that Germany had wiggle-room for cuts.
    "I expect there will be a need to take action on corporation tax in coming years because in some countries, from the U.S. to Britain, but also in other continents, there are many considerations where we can't simply say we'll ignore them," he said.
    Addressing a real estate conference, Schaeuble also promised that his and Chancellor Angela Merkel's conservatives would also act to boost home ownership levels in Germany if elected in September's vote.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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