UPDATE: German Cabinet Approves 2010 Stimulus Plan - Source
(Adds details.)
By Patrick McGroarty
Of DOW JONES NEWSWIRES
BERLIN -(Dow Jones)- German Chancellor Angela Merkel's cabinet Monday approved
economic stimulus measures for 2010 worth some EUR8.4 billion, said a person
familiar with the government's action.
The package of rapid economic stimulus measures designed by the center-right
parties in Germany's new governing coalition include higher child benefits and
changes to company and inheritance tax systems.
Under the plan, a monthly state-funded allowance for families will grow by
EUR20 for each child and the tax-exempt total will be increased to EUR7,008 next
year.
On inheritance taxation, the burden for siblings and their children will be
lowered and rules will be changed to make the transfer of businesses more "
crisis-proof."
The plan still needs approval from both houses of parliament, in fast-tracked
votes scheduled for next month.
The government has previously implemented around EUR80 billion in fiscal
stimulus measures.
-By Patrick McGroarty Dow Jones Newswires; 49-30-288-8410; patrick.mcgroarty@
dowjones.com
(END) Dow Jones Newswires
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