German Minister-President Mario Voigt Calls for Tax Incentives to Spur Investment and Research
Thuringia’s Minister-President, Mario Voigt, a member of the Christian Democratic Union (CDU), has urged the introduction of tax incentives to stimulate investment and research in the country. Voigt, speaking to the German News Agency on Monday, emphasized the need for economic dynamism in Germany, stating, “It is high time for the economic momentum in Germany to gain speed again.”
The Thuringian Minister-President, who also chairs the Conference of East German Minister-Presidents, believes that the region of East Germany, in particular, requires “economic policy impulses that reach the Mittelstand and industry.” He plans to advocate for “reliefs with pace, reliability and without new bureaucracy” to achieve this goal.
Voigt’s comments come in response to the tax relief measures announced by Federal Finance Minister Lars Klingbeil of the Social Democratic Party (SPD). The measures, which were previously outlined in the coalition agreement, aim to create a “investment booster.” Klingbeil has now presented a draft bill, which includes the creation of expanded depreciation options for electric vehicles and machines, as well as a gradual reduction of the corporate tax rate from 15 to 10 percent.