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German Chancellor seeks economic reform

German Chancellor seeks economic reform article image
The re-election of German Chancellor Angela Merkel is a vote for "courageous reform", according to the German Association of Chambers of Commerce and Industry. The association's president Hans Heinrich Driftmann believes Merkel will push through corporate tax cuts and other contentious changes. Merkel's new coalition partner, the business oriented Free Democrats (FDP), is likely to push for multibillion-euro tax cuts and a simpler tax code, which will please associations such as the Federation of German Wholesale and Foreign Trade, which wants "simplified taxes, less bureaucracy and more entrepreneurial freedom". But Merkel has been careful about dedicating herself to the corporate cause, citing the need to "maintain a balance between those who create jobs and workers" after Germany's economy suffered in the global downturn due to a reliance on exports. However, she showed strong resolve to solve the country's economic woes. "Germany is in a global competition and can take nothing for granted," she said. "We have a lot of work ahead of us."

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