Sun, 08 Mar, 2015 12:10:48 AM FTimes – STT Report, Mar 8  OP-Pohjola Group's chief economist Reijo Heiskanen. File Photo – Lehtikuva. The savings objectives presented by Prime Minister and Chairman of Kansallinen Kokoomus (National Coalition Party-NCP) Alexander Stubb represent about one third of the party’s goal of three billion euros, according to economist Reijo Heiskanen.
In an interview with the national broadcaster YLE on Saturday, Reijo Heiskanen, chief economist of OP Bank Group, said in his estimates the Kokoomus’s target of three billion euros may not be enough, especially if they cut taxes at the same time.
Earlier, in the morning, Stubb talking to YLE Ykkösaamu (morning breakfast) programme said the cuts should be made by, among other things, reducing development assistance, freezing of benefits, and reducing earning-based unemployment assistance.
In addition, Stubb named development and ministers’ salaries in his cutting agenda.
Both the government and the ministries’ activities and other political works should, according to Stubb, be all around more efficient and focused.
Heiskanen told YLE that of the Stubb’s list of cuts the freezing of benefits could result in significant savings.
According to the economist, the proposed cuts to the ministerial salaries, though, are largely symbolic.
In total, the savings gained by Stubb’s cuts, Heiskanen estimates, could reach one billion euros.
Statistics Finland reported on March 2 that the national and local deficit last year totalled 9.9 billion euros.
In December, the Ministry of Finance predicted that the combined national and municipal deficit would be around 8.5 billion euros.
Finnish economists at the time evaluated the state of the economy to be “dramatically poor”.
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