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(Apr 24, 2013) On April 22, 2013, the Danish government and the opposition party Dansk Folkeparti agreed to a package of initiatives designed to boost growth and employment. The initiatives are contained in a bill that would cost 17 billion kroner (about US$3 billion) over the next seven years. Among the bill's provisions are:

· a reduction of the levy on beer and soft drinks, in order to boost sales in Denmark rather than in neighboring Germany where sales taxes on those products are lower. The soft drink tax will be cut in half by July of this year and will be eliminated in 2014, while the beer tax will be reduced 15% in July;

· creation of an income tax deduction of up to 15,000 kroner (about US$2,600) for home improvement costs;

· reduced energy tariffs for businesses;

· investment in adult further education; and

· abolition of the levy on packaging. (Peter Stanners, Growth Bill Brings Cheaper Energy, Soda and Beer, THE COPENHAGEN POST (Apr. 22, 2013).)

In addition, 200 million kroner will be put into a fund for tearing down unused or dilapidated buildings, and broadband service will be improved for the island of Bornholm. (Id.)

The government is also proposing to cut the corporate tax rate to 22% from the current 25%. The opposition has not agreed to this idea, however, as the cost would be absorbed by cuts to welfare. (Id.)

Author: Constance Johnson More by this author
Topic: Economics and Public Finance More on this topic
Jurisdiction: Denmark More about this jurisdiction

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Last updated: 04/24/2013