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Home BUSINESSRuling NCP, SDP split over cost cut, tax hike
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Sat, 03 Aug, 2013 03:41:24 AM
Budget 2014 to be placed in parliament this month
FTimes-STT Report, August 3
The parliamentary group leader of the National Coalition party, Petteri Orpo. Photo - Lehtikuva
The major  two components of the six-party alliance government- National Canalisation Party (Kokoomus) and Social Democratic Party (Sosialidemokraattinen)- are yet to reach an understanding over the issue of cutting costs and hiking taxes in the  budget for the year 2014 scheduled to be placed in the parliament this month.
 
Although the leaders of the main ally NDC are still thinking to continue the policy for cutting expenditure in the next year budget, SDP leaders said that the government should now to be attentive in investing as there was enough expenditure cut this year, sources in the parties said.
 
Both the parties are now trying to narrow down the differences of opinions on expenditure cut and tax hike before the budget proposal is finalised in an internal session by next Wednesday and published on Thursday, sources said.
 
The Finance Ministry, Jutta Urpilainen. Photo - Lehtikuva
The ministers of different ministries will also hold talks with the Finance Minister Jutta Urpilainen next week regarding the allocations in different sectors.
 
Earlier, the coalition government on March 21 announced the budget planning in the parliament for the next fiscal aiming to adjust an amount of EUR 600 million.
 
Although the leaders of the ruling parties termed the budget as a financial solution and said that it would help boom the job market, the lawmakers of the opposition criticized the budget for cutting expenditure.
 
The Prime Minister and NCP chief, Jyrki Katainen on Friday talking to media said that his government is looking forward to draft a supplementary budget in autumn cutting the additional expenditure.
 
“We can still took for more affordable sectors to effectively use the public expenditure,” The  parliamentary group leader of the National Coalition party,  Petteri Orpo told STT on Friday, adding that  the saving policy would help to face the present economical situation.
 
The SDP parliamentary group leader Jouni Backman. Photo - Lehtikuva
The SDP parliamentary group leader Jouni Backman, however, said that the government should now think about investment rather than saving money.
 
“Now it is the time to invest in public sectors as the expenditure was cut enough,” said Backman, adding that there should be no more balancing policy in the upcoming budget session.
 
Government sources said that the final budget proposals would be presented in the parliament at the end of this month and will be approved in December after holding discussions throughout the month of September.
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