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Home BUSINESSNo new cost cut, no tax hike in budget: PM
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Mon, 26 Aug, 2013 03:40:05 AM
FTimes-STT Report, August 26

The Prime Minister, Jyrki Katainen on Sunday said that the government has no plan to cut any more expenditure and introduce any more tax in the supplementary budget to be approved by the parliament at the end of this week.
In an interview with Yle Radio at his Kesäranta residence, Katainen , however, expressed concern over the declining export rate and government's growing indebtedness.
The Premier, without detailing, also said that the government was planning to re-organise its thought about the expending limit and discuss it during the March session of the parliament next year.
He admitted that he has already received, from the finance ministry, a preliminary reconstruction list including the supplementary budget released by the government on Friday.
“Finland’s export has been reduced significantly during the recent period and reached to second weakest place in Euro Zone after Greece,” said the prime minister, adding that Greece should bring changes in the deal to get loan package as EU Commissioner Olli Rehn has said.
Earlier, the government on Friday published the draft of the supplementary budget increasing the net debt to EUR 9 billion and the amount is much higher than the estimated figure.
With the debt increase, the state debt will be EUR 93 billion at the end of this year.
The supplementary budget will be placed before the parliament on Wednesday and expected to be approved by the House on Friday.
The draft budget said that out of the amount, EUR 346 million has been allocated for various stimulus projects including EUR 200 million for the infrastructural development of the Helsinki Airport. The rest amount of the allocation will be given to the sectors for renovation of the mold affected buildings and small roads.
The remaining EUR 0.9 billion will be needed to recover the shortfall in income tax revenues as the earnings from tax and review was much lower compared to the targeted amount.
The supplementary budget also kept incentive and tax holiday for small entrepreneurs and farmers and the burden of administrative cost will be reduced as per the supplementary budget.
The government also took the matter of providing same amount of unemployment benefits to the people who earn EUR 300 or less per month as the benefit of the completely unemployed people.
The supplementary budget also assured to provide tax free informal scare and Kela would  pay the benefit in future without cutting the Child home care allowance.
It also planned to bring changes in the child protection and youth work service facilities and allocate money for renovation of private roads.

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