Denmark Plans to Cut Income Taxes by $1 Billion, Borsen Says

Denmark’s government will cut personal income taxes by 6.75 billion kroner ($956 million) toward 2030, more than previously proposed, as it seeks to make it more attractive to work, Borsen reported.

The cuts will increase labor supply by 5,150 people by the end of the decade, the newspaper said, citing government calculations. Most of the reductions will come from an expansion of the tax-free employment allowance for the workforce, which recently hit a record 3 million people.

The Nordic country’s grand coalition government, which last year had proposed tax breaks worth 5 billion kroner, will also introduce new tax ...