Finland cuts taxes to boost growth

HELSINKI, April 23 (Xinhua) -- The Finnish government announced sweeping tax reforms on Wednesday, aimed at boosting growth and strengthening the country's global competitiveness.

Prime Minister Petteri Orpo said the top marginal tax rate on earned income will be lowered from 57 percent to 52 percent. The cuts are part of a broader plan to reduce taxes across all income levels, with a particular focus on supporting low- and middle-income earners. The state income tax reductions are expected to total around 1 billion euros (1.13 billion U.S. dollars) annually.