EU business against VAT cut to boost economy

Newswire

By Marcin Grajewski BRUSSELS, Nov 26 (Reuters) - The European Union's top business group on Wednesday backed proposals for a coordinated fiscal boost plan for the bloc's shrinking economy, but said it should not involve cuts in value added tax. BusinessEurope chiefs said reducing VAT was unlikely to do much for a much-needed boost in consumer demand and investment, although it would reduce inflation, which is falling anyway. The European Commission, the EU's executive arm, is expected ...

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