US tax alterations could add growth yet mean nothing without structural reform, OECD’s Gurria says

An overhaul of the U.S. tax system could help promote growth yet structural reforms need to be made, the secretary general of the Organisation for Economic Co-operation along with Development (OECD) told CNBC at the earth Economic Forum in Davos, Switzerland.

“On the face of This particular you’re talking about lowering corporate taxes, promoting repatriation (of taxes) along with the big infrastructure program, along with which all adds to more growth — hence This particular very great interest (from the overhaul) along with the 26,000 mark from the stock market,” Angel Gurria told CNBC on Wednesday.

“(yet) regardless of what tax structure you have, structural change has to happen. We’ve run out of room, or almost, on monetary along with fiscal policy along with the problem will be we are measuring the fact, objectively which structural change will be slowing down when This particular needs to be accelerating,” he said.

Gurria’s comments come after the U.S. government under President Donald Trump passed sweeping alterations to the country’s tax system, cutting corporate tax rates coming from 35 percent to 21 percent along with some individual tax rates, as well as alterations to several tax breaks.

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