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Home BUSINESSDecision on budgetary adjustment in March: PM
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Thu, 06 Feb, 2014 12:12:36 AM
FTimes-STT Report, February 6
 
File Picture of Prime Minister Jyrki Katainen. Photo – Lehtikuva.
Prime Minister Jyrki Katainen has said the timetable required to carry out further budgetary adjustments should be carefully addressed.
 
The government intends to put its finances in orders by further hiking taxes and making cuts in government spending.
 
Speaking during the parliamentary opening session on Wednesday, the premier said the government will make the decision on further budgetary adjustments in March.
 
Katainen however did not take a stand on whether the government would still hold on to its plan for cutting debt during this government's term, adding that the decision will be made in March.
 
He reminded that budget adjustment of 5 billion euros has already been made by the government in the past three years.
 
The premier also pointed out that no party in the parliament has presented such huge cuts and tax increases that would be sufficient to improve the economy and reduce debt.
 
As part of the budget adjustment plans, the government has requested the Ministry of Finance to evaluate state finances and tax reforms.
 
Earlier on January 31, Prime Minister Jyrki Katainen said the country’s economic situation was still going through a gloomy situation and it would be wise to make reasonable adjustment measures to cut expenditure.
 
Responding to earlier remarks by the finance minister regarding austerity measures, the prime minister in a statement upheld the government’s saving measures.
 
Finance Minister Jutta Urpilainen on January 30 said the government’s plans to cut spending would put tremendous pressure on economic growth and employment.
 
 
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