Greek Premier Offers €1.6 Billion Tax Cuts to Spur Middle Class

Greek Prime Minister Kyriakos Mitsotakis announced a radical €1.6 billion ($1.9 billion) reform of the country’s income tax system, aimed at boosting the nation’s middle class that has struggled to rebound from years of crisis.

In an annual speech setting out his government’s policy priorities for the coming year, Mitsotakis unveiled cuts in income tax rates, particularly for families with children. He announced no income taxes for families who have four or more children on the first €20,000 of annual income, in a bid to boost Greece’s low birthrates.