Germany takes lead on tax reforms

Lowering the consistently high tax rates that exist throughout Europe and reforming the labour laws will be an essential part of ongoing economic growth, according to fund managers. Germany is taking this message seriously and in doing so will encourage the other European countries to follow suit. "The German government is bringing forward tax cuts by a year, which will help German consumers," says Petr Kocourek of Morgan Stanley Investment Management. "Aside from being a positive for the long-term wealth of the German economy, it is important in the wider European context, as it spurs...