(Bloomberg) -- The Danish government and its parliamentary ally have agreed to 5 billion kroner ($830 million) of tax cuts, Ritzau reported, citing Finance Minister Kristian Jensen.
The deal is a fraction of the 23 billion kroner initially targeted by Prime Minister Lars Lokke Rasmussen. He was last month forced to abandon the more ambitious plan after the Danish People's Party said it wouldn't back the move without tougher immigration laws in exchange. Tuesday's deal includes a 0.02 percentage point reduction in the basic rate of income tax and higher pension deductions.
To contact the reporter on this story: Nick Rigillo in Copenhagen at nrigillo@bloomberg.net.
To contact the editors responsible for this story: Jonas Bergman at jbergman@bloomberg.net, Tasneem Hanfi Brögger
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