REUTERS/Lisi Niesner Acquire Licensing RightsMESEBERG, Germany, Aug 29 (Reuters) - Germany's coalition on Tuesday set aside weeks of squabbling to agree to a total of 32 billion euros ($34.63 billion) in corporate tax cuts over four years to boost the flagging economy.
"The German economy can do more."
The German economy stagnated in the second quarter, showing no sign of recovery from a winter recession and cementing its position as one of the world's weakest major economies.
An agreement was reached on Tuesday when the two sides agreed to cut the planned Child Basic Insurance to just over two billion euros.
A government document seen by Reuters showed subsidies are set to almost double to 67.1 billion euros next year compared to 2021.
Persons:
Olaf Scholz, Lisi Niesner, Finance Minister Christian Lindner, Lisa Paus, Lindner, Forsa, Scholz, Matthias Williams, Christian Kraemer, Thomas Escritt, Tomasz Janowski, Ed Osmond, Barbara Lewis
Organizations:
Schloss, REUTERS, Reuters, Finance Minister, Greens Family, Insurance, stoke, Thomson
Locations:
Schloss Meseberg, Gransee, Germany, Berlin