Germany eyes modest tax cut next year

Germany's finance minister said Thursday he would cut taxes from next year after experts forecast a nearly 40-billion-euro ($45-billion) tax windfall for Europe's top economy over the next five years. Finance Minister Wolfgang Schaeuble said the extra money provided room to reform the phenomenon of tax bracket creep where employees who get pay rises slip into higher tax groups, making their net pay lower than before. The revision aims to provide around 1.5 billion euros in tax relief i