Thu, 29 Aug, 2013 12:32:00 AM Decision on structural reforms likely today: FM FTimes-STT Report August 29
The ruling parties’ leaders, however, are yet to reach any decision regarding structural reforms and expected to decide it on Thursday, said Finance Minister Jutta Urpilainen.
The ministers sat together at the Prime Minister’s official residence to discuss the supplementary budget and agreed on the proposal placed by the Finance Minister Minister Jutta Urpilainen. The Finance Minister, Jutta Urpilainen, also chief of the second largest component of the government Social Democratic Party said that the structural reform would help overcome the unemployment crisis and improve productivity in the public sector. The Finance Ministry’s working group has proposed limiting children’s right to daycare if their parents are not at work or in education, restricting benefits for stay-at-home parents and re-balancing student financing to place more emphasis on loans than direct support, reported Yle.
The draft of the supplementary budget said that out of the amount that increased the debt, 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 building 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 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.
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