Schaeuble Says Government Hasn't Ruled Out Tax Cuts, Focus Magazine Says

German Finance Minister Wolfgang Schaeuble said the government doesn’t exclude tax cuts as long as they don’t violate the country’s consolidation efforts, Focus magazine reported.

After the financial crisis forced Germany to take on more debt, it’s now key to reduce new borrowing, Schaeuble was cited as saying in a pre-released article provided by the magazine. While the government will use emerging room to lower taxes in the medium term if the so-called debt brake, which is enshrined in the constitution, allows, it is more important now to simplify the country’s tax system, he said.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net.

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