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Europe is putting in place a new system of fiscal rules following the euro area sovereign debt crisis and decades of rising government to debt-to-GDP ratios. These include the so-called “six pack” to upgrade the Stability and Growth Pact to a new Treaty incorporating the “fiscal...
Persistent link: https://www.econbiz.de/10009690998
, though, will have to be on the revenue side, primarily through hikes in the consumption tax rate toward the OECD average and … a broadening of the personal income tax base. Fiscal consolidation should be accompanied by measures to promote … inclusive growth through the tax and benefit system, in particular by introducing an earned income tax credit to assist the …
Persistent link: https://www.econbiz.de/10011732716