OTHER NEWS - Sept. 8, 1992

Germany Proposes Tax Cut: German Finance Minister Theo Waigel proposed that the top corporate tax rate be cut from 50% to 44% in a bid to bolster German industry’s competitive edge. Waigel told reporters he got support for his proposal at a meeting of the parliamentary leaders of the ruling Christian Democrats and its Bavarian sister party, the Christian Social Union. German Chancellor Helmut Kohl, chairman of the CDU, said a cut in the top corporate tax rate would safeguard German competitiveness as the European Community enters the international arena with the January inauguration of a single European market.