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Home BUSINESSSupplementary budget of EUR 540 million proposed
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Sat, 03 May, 2014 12:04:13 AM
FTimes-STT Report, May 3
Minister of Finance Jutta Urpilainen. Photo – Lehtikuva.
The Ministry of Finance led by Finance Minister Jutta Urpilainen has proposed a supplementary budget of more than 540 million euros to support innovative investment, projects and employment.
As part of the supplementary budget, 50 million euros will be channelled to Finland Industry Investment. The funds will be used to launch an investment programme which will be used to support Finnish companies.
The innovation funding Centre Tekes has been allowed loan authorization of up to 60 million euros and an annual appropriation of 24.6 million euros.
Additional five million euros has been proposed for rehabilitation of fairways, pavements and deteriorated bridges.
Still on infrastructure development, 6 million euros will go to improvement of the main road in Salo and 40 million for the renovation of Olympic stadium.
Improvement of adult skills and competence will be further strengthened by 10 million euros.
The fund is intended for people between the age of 30-50 without post comprehensive education qualification.
Financial assistance to students will also be granted corresponding to the increment in enrolment.
A fixed-term start up grant has also been proposed to increase the production of rental housing in Helsinki region.
Some 2.65 million euros has been proposed for the improvement of information security of the state's top leadership.
Metsähallitus will receive five million for the building of structures in national parks and other natural and cultural sites as well as for improvement of services.
The government net borrowing for this year has been proposed at 7 billion euros. The revenue for financing the supplementary budget will mainly be from proceeds of equity sales.
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