March 24, 2020 / 11:03 PM / 9 days ago

German finance minister mulling tax-free allowances for employees -Bild

BERLIN, March 25 (Reuters) - German Finance Minister Olaf Scholz is looking into the possibility of granting workers tax-free allowances during the coronavirus crisis to help alleviate its impact on Europe’s largest economy, the newspaper Bild quoted him as saying.

“I am currently discussing with my officials whether we can make tax-free allowances, for example, possible to a certain extent under the law, up to a certain amount,” Bild quoted Scholz as saying.

Chancellor Angela Merkel’s Cabinet agreed on Monday a package worth over 750 billion euros ($810 billion) to mitigate the direct impact of the pandemic, with the government aiming to take on new debt for the first time since 2013.

Ministers said on Tuesday the government was working on a post-coronavirus stimulus package to put the German economy back on track once the outbreak is contained.

Writing by Paul Carrel; Editing by Peter Cooney

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