Greece is set to become the next European nation to introduce a flat rate of income tax, according to speculation in Athens triggered by the finance minister, Giorgios Alogoskoufis.
The prime minister, Costas Karamanlis could announce the proposal at next month's Thessaloniki International Fair. A flat rate of income tax, which abolishes all bands and exemptions and replaces them with a single rate and a high personal allowance, is all the rage among free-market thinkers and the idea is sweeping across eastern Europe.
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