Towards the new middle, at last

Article Abstract:

German chancellor, Gerhard Schroder, has announced a plan to reduce taxes and government spending. Spending cuts of $16 billion have been announced for the 2000 budget, and unemployment benefit and pensions will be affected. The government has to reduce debt servicing charges and aims to begins reducing debt by 2006, when net borrowing should have dropped to zero. There are still challenges ahead, such as a need to move toward prive finance for pensions.

Government spending policy

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Working poor: tax and benefits

Article Abstract:

New UK exchequer Sec. Gordon Brown's plan to lower the starting rate of income taxation to 10% is hasty and ill-considered. A better idea is to wait for the report of a recently appointed commission, who should sort out the complex issue of how taxing the working poor can be a work disincentive.

Personal Income Taxes, United Kingdom, Taxation, Social policy, Personal income tax, Working class, Brown, Gordon (British politician)

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Restoring Germany's shine

Article Abstract:

Over-generous welfare and labor policies, not post-Communist reunification, are slowing German economic growth. Cutting its budget by 2% of public spending may reverse the decline in German productivity.

Fiscal Policy, Editorial, Cover Story, Budget, Budgeting, Budgets

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