Financial expert: Germany urgently needs tax relief for companies - and quickly.

Financial expert: Germany urgently needs tax relief for companies - and quickly.

According to a report by www.t-online.de, Germany's economics minister has recognized that companies need tax relief to stimulate the economy.

The mini-recession in Germany, with an economic contraction of 0.3 percent last year and an expected growth potential of only 0.4 percent by 2028, poses major challenges for the economy. The measures to relieve the burden on companies are to be taken due to the difficult conditions that are hindering their growth.

The Economics Minister's recent proposals for a special fund to provide relief for companies and tax cuts could be a first step in the right direction. Nevertheless, the financing of these steps is highly controversial, as permanent tax cuts with a new pool of debt hardly seem realistic.

However, the discussion about tax relief for companies is a positive step in the right direction, as this is necessary to ensure prosperity. It is important that concrete steps now be taken to translate the debate into measures that promote company growth.

Politicians must therefore act quickly and consider measures such as abolishing the solidarity contribution for companies and gradually reducing corporate tax in order to get Germany back on track and stimulate the economy.