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Home BUSINESSResearcher suggests to save EUR 8 billion
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Sun, 26 Jan, 2014 02:22:52 AM
FTimes-STT Report, January 26
Nordea Bank head director Aki Kangasharju. Photo - Lehtikuva.
The head researcher of Nordea bank, Aki Kangasharju, on Saturday said the government should set a target for saving EUR 8 billion instead of the planned EUR 3 billion.
Speaking in an interview with the YLE Television programme, Kangasharju evaluated the sustainability gap pointing out that there was a huge deficit in public finances.
“Finland needs four years of more radical austerity measures than the government has planned,” Kangasharju said.
The researcher also spoke against further increase in taxation and recommended local government savings and reduction in public sector expenditure.
The government intends to make 3 billion EURO in savings through tax increment and expenditure cuts.
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