The Bundesrat - the upper house of the German Parliament - approved today by a large majority the so-called Growth Opportunities Law. This is a multibillion-dollar package to boost business growth.
It mainly promises tax cuts and fewer bureaucratic obstacles so that companies can face the economic recession and be more competitive. It is part of the 10-point plan agreed by the German Government last year to boost the economy and investments. The German Chamber of Industry and Commerce sees it as “a small silver lining on the horizon of companies.”