Measures
The plan includes a broad range of actions at national level and at EU level to help households and industrial firms (particularly automobile and construction).
The measures include:
- reflation: the Commission will allow Member States to break the Stability and Growth Pact for two or three years.
- incentives to investment: the plan outlines measures to encourage the fight against climate change and promotes strategic investments in buildings and energy efficient technologies.
- lower rates: the ECB is invited to drop its rates.
- tax rebates: lowering taxation on green technology and eco-friendly cars, accompanied by scrappage programs
- social measures: the Commission proposed the governments to temporarily increase unemployment benefits and their duration, to increase allowances to households, to lower taxes on low incomes, to lower social security contributions paid on low wages by employers, to reduce labour costs paid by employees with low incomes, to provide subsidised loans or credit guarantees for companies, to reduce temporarily the VAT rate to support consumption. The Commission announced it would adopt by mid-March 2009 a proposal to lower VAT rates for services with high labour-intensiveness (such as catering).
Read more about this topic: 2008 European Union Stimulus Plan
Famous quotes containing the word measures:
“To have the fear of God before our eyes, and, in our mutual dealings with each other, to govern our actions by the eternal measures of right and wrong:MThe first of these will comprehend the duties of religion;Mthe second, those of morality, which are so inseparably connected together, that you cannot divide these two tables ... without breaking and mutually destroying them both.”
—Laurence Sterne (1713–1768)
“Almost everywhere we find . . . the use of various coercive measures, to rid ourselves as quickly as possible of the child within us—i.e., the weak, helpless, dependent creature—in order to become an independent competent adult deserving of respect. When we reencounter this creature in our children, we persecute it with the same measures once used in ourselves.”
—Alice Miller (20th century)
“I hear America singing, the varied carols I hear,
Those of mechanics, each one singing his as it should be blithe and
strong,
The carpenter singing his as he measures his plank or beam,
The mason singing his as he makes ready for work, or leaves off
work,”
—Walt Whitman (1819–1892)