European Commission to launch a baby-step stimulus plan today
Nov 26th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Commission is to launch a baby-step stimulus plan today including proposals on lower labour taxes, cut VAT rates, accelerate regional aid and request that EU member countries should agree on fiscal measures that would on an EU27-wide basis be valued at €130 billion - equivalent to 1% of GDP (gross domestic product). The Commission will also call for the European Central Bank to make further interest rate cuts.