Germany Industry Urges Corporate Tax Reform

German industry and employers' groups on Thursday urged the government to urgently reform the corporate tax system to make it more competitive. "We need a tax policy that goes hand in hand with the economy and doesn't harass it instead," Ludwig Georg Braun, president of the German Chambers of Industry and Commerce (DIHK) said during a press conference in Berlin. Dieter Hundt, president of the Federal Confederation of the German Employers' Association said the government needed to come up with a comprehensive policy for more prosperity, growth and progress in Germany. He said that lowering taxes on profits, that were way too high in international comparison, and bringing them back to a competitive level had to be made a priority. "Economically and politically, we can't afford stagnation and a rejection of reforms."