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Business

Industry Calls for Tax Reductions

German industry has appealed to Chancellor Gerhard Schröder to cut taxes and speed up labor market and welfare reforms. At high-level talks with Schröder, top representatives from employer associations, trade and industry issued a joint statement calling on the chancellor to bring tax rates to below 35 percent. Industry representatives said the move was necessary in order to reduce the burden on both companies and citizens, and added that the current measures were by no means adequate. They also insisted that the reform process must not be allowed to grind to a halt. Schröder has been facing pressure to slow the pace of his reforms, which are proving unpopular among the public.