Member for

3 years 11 months
Submitted by ctv_en_3 on Wed, 11/26/2008 - 11:05
EU member states are being urged to sign up to an economic recovery plan proposed by the European Commission.

The Commission has suggested that tax cuts could be made on Value Added Tax, energy efficient goods and labour taxes, while the investment should be focused on construction and car makers.

The plan unveiled on November 26 is expected to total 130 billion euros, about 1 percent of the EU member states' GDP.

France and Germany's leaders have called on the EU to ease fiscal rules to allow nations to spend more to boost their economies. The two leaders made their comments in a joint newspaper article, to be published on Wednesday, saying that governments had to head off a "recessionary spiral" at home.

The EU Stability and Growth Pact - which all member nations sign up to - requires a country's annual public deficit to remain below 3 percent of its GDP.
BBC

Add new comment

Đăng ẩn
Tắt