New corporate tax cuts in Europe would be dangerous: German economy minister

November 24, 2016 4:23 AM EST

Sigmar Gabriel, Germany's Minister of Economic Affairs and Energy, speaks during a news conference at the 15th Asia-Pacific Conference of German Business in Hong Kong, China November 4, 2016. REUTERS/Bobby Yip

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BERLIN (Reuters) - German Economy Minister Sigmar Gabriel said on Thursday that a new round of corporate tax cuts in Europe due to "problems in Britain" would be risky.

"It would be even more dangerous (than promises for expensive investment programmes) if we were to start a new round of corporate tax cuts in Europe - triggered by the problems in Britain," Gabriel told the Bundestag lower house of parliament.

A spokeswoman for British Prime Minister Theresa May said on Monday the government had already outlined measures to cut corporation tax to 17 percent by 2020 and described any talk of further cuts as "speculative".

(Reporting by Markus Wacket; Writing by Michelle Martin and Sabine Siebold)

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