Echlon's New Expansionary Fiscal Policy
The Echelon State Military announces to the Central Defence Secretariat that the Feild Marshal's executive office will be luanching extensive financial and economic measures to stimulate Echelon's economy. Field Marshal Gerard Duceppe's Executive Standing Committee and the top economic and financial officials:
Bureau of Commerce and Industry: Peter McGarif
Echelon State Treasury : Emily Le?bray
Echelon State Bank (Central Bank): Richard Miller
Echelon Revenue Collection Service: Alicia Grietzieg
The Executive Standing Committee have taken the following measures. Echelon State Bank Governor Richard Miller announces a reduction in interest rates from 7% to 4% in order to stimulate the money supply, this will also be acheived buy purchasing bonds on te open market of the Echelonian Stock Exchange (Bourse d'?chelon/Staffelungsb?rse) known as the ESX. The lowering of interest rates will make Echelon look more attractive for investers wishing to conduct financial transactions within country whether that be foregn business investers or foreign governments.
Peter McGarif Secratary of Commerce and Industry has agreed to comply with the Field Marshal's wishes and and lower tarrif barriers across the board on all consumer goods. However Treasurer Emily Le'bray and Tax Officer Alicia Grietzieg have remined the rst of the cabinet that Echelon still has one of the highest tax rates in Europe, but will take all nessacary to lower tax rates from 56% to at least 35% within the span of 5 years in an incromental process so as to ease the tax burdans on businesses and personal income of the average citizen.
Also Treasurer Emily Le'bray announces the reason why Echelon wanted to keep the Franc rather than switch to the Euro is that the Franc to some extent is more of a mixed managed currency that can be controlled somewhat, add to the fact that due to the fact that the currency is a little weaker than the Euro, Echelon will stand out as a more cheaper market to import manufactored goods from, to help the facilitation of a possible future trade surplus.
Field Marshal Gerard Duceppe says that in order to facilitate this growth Strategy, Echelon needs some trading and economic allies, that can be used through the EU's freedom of goods movement clause, thus Franz Webber Secretary of Foreign Relations will be taking a European tour for economic trade allies within a few days. States willing to conduct trade with Echelon will be fre tio voice thier interest anytime within that time slot.