Government Okays Consolidation Package, So Far Only for People and Companies

Bratislava, 10 September (TASR) - The cancellation of time off work on some public holidays, shorter tax holidays for new sole traders, more progressive tax on employee incomes and an increase in health-care levies are just some of the measures included in a law amending certain legislation in connection with the consolidation of public finances that the cabinet approved on Wednesday. The government has asked Parliament to discuss the law via a fast-tracked legislative procedure. The law doesn't address savings at ministries and offices, but only changes that affect companies, municipalities and citizens. Finance Minister Ladislav Kamenicky (Smer-SD) said on Tuesday (9 September) that the ministries are set to submit proposals for savings by the end of this week. In total, this should cover about €700 million. The government has added the payment of energy aid from EU funds worth €430 million to this amount. The approved provisions of the consolidation law should bring €1.4 billion into state coffers. At a press conference on Tuesday Kamenicky announced that the package of consolidation measures for next year will include 22 measures totalling €2.7 billion. Almost half of the amount, €1.3 billion, should be obtained by savings on state spending. The result is supposed to be a reduction in the general government deficit and a gradual stabilisation of public debt. am/df