The British government was set to announce a cut of 2.5 percent to its value-added tax on Monday (24 November) as part of a broader stimulus package aimed at jumpstarting the economy. Meanwhile, German Chancellor Angela Merkel was resisting calls for similar moves from her party over the weekend and is set to meet French President Nicolas Sarkozy about the EU rescue package to be unveiled on Wednesday.
The British VAT cut from 17.5 to 15 percent, the lowest rate allowed by EU law, was t...
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