‘I’ll tax rich Ger­mans more’:

Europe

Arab Times - - INTERNATIONAL -

Schulz

Ger­many’s So­cial Democrats (SPD) said on Mon­day they would tax the rich more and low earn­ers less, mak­ing a play to win back work­ing­class vot­ers as the party seeks to re­vive a flag­ging elec­tion cam­paign.

SPD leader Martin Schulz hopes to un­seat Chan­cel­lor An­gela Merkel in the Sept 24 elec­tion, but the cen­tre-left party has lost mo­men­tum in the polls since mak­ing gains fol­low­ing his nom­i­na­tion in Jan­uary.

“We’ll re­duce the tax bur­den for small and medium-sized in­comes and we’ll sup­port fam­i­lies,” Schulz told re­porters.

“Our pro­posal is good not just for Ger­many but also for Europe,” he said, adding it would help stim­u­late do­mes­tic de­mand and suck in more im­ports from other Euro­pean coun­tries.

Schulz said the SPD would in­crease Ger­many’s top in­come tax rate to 45 per­cent from 42 per­cent, while lift­ing the thresh­old from which the rate ap­plied to 76,000 eu­ros ($85,000) from around 54,000 eu­ros.

The SPD, cur­rently the ju­nior part­ner in Merkel’s rul­ing coali­tion, would also raise the spe­cial in­come levy for those earn­ing 250,000 eu­ros or more to 48 per­cent from 45 per­cent. (RTRS)

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