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Bruno Le Maire, France's finance minister, said on Thursday that France would cut taxes by more than 10 billion euros ($10.9 billion) next year, and Germany should keep pace with France's fiscal stimulus to revive its sluggish economy.
In introducing France's 2020 budget, Lemmel said the latest ECB monetary easing has created an opportunity for governments of affordable member countries to increase investment.
The European Central Bank cut interest rates to a record low on September 12 and plans to restart debt purchases to reduce borrowing costs in the hope of stimulating economic recovery and boosting inflation.
"Low interest rates will not bring prosperity back to Europe, and monetary policy measures are necessary but not enough," Lemmel told reporters.
"Germany needs to invest. It needs to invest now. The sooner the better. Don't wait for the situation to get worse before you act, "he added. He has made this appeal to Germany on many occasions.
France has implemented tax cuts of more than 10 billion euros this year, which has greatly boosted its economic growth. The German economy, which relies on exports, bears the brunt of the loss of momentum in the global economy.
Lemel pointed out that next year the tax burden of French households will be reduced by 9.3 billion euros, including 5 billion euros in income tax relief.
In addition, with the gradual implementation of the corporate tax rate from 33.3% to 25% over a five-year period, the tax burden of enterprises will be reduced by nearly 1 billion euros.


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