Czech lawmakers back government's $6.5 billion deficit-cutting plan
PRAGUE - Czech lower house lawmakers approved on Friday the centre-right government's 151 billion crown package of spending cuts and tax hikes aimed at cutting the budget deficit in the next two years.
The country's public sector deficit has soared since 2020 with increased spending during the coronavirus pandemic followed by subsidies to shield the public from soaring energy prices and high inflation that has triggered a fast rise in pensions. The consolidation package approved on Friday includes hikes in the corporate tax rate, higher taxation of high-earning employees and real estate. A deficit reduction is also to come from cuts in state subsidies, mainly for energy, which is being shifted to consumers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Poland, Czech Republic extend border controls with SlovakiaPoland and the Czech Republic will extend temporary controls on their borders with Slovakia into November as countries seek to restrict the flow of illegal migrants.
Read more »
Ji.hlava Unveils Lineup With Focus on AI, New TechnologiesJi.hlava Intl. Documentary Film Festival has unveiled the program for its 27th edition, which will take place in the Czech Rep. from Oct. 24 to 29.
Read more »
Tribunal prohibits Sasol’s sale of sodium cyanide business to DraslovkaThe Competition Tribunal has today issued an order prohibiting the intermediate merger involving the sale of Sasol South Africa’s sodium cyanide business to a Czech Republic-based producer of sodium cyanide, Draslovka Holding, through its local subsidiary, Draslovka South Africa. Sodium cyanide, a chemical compound commonly used in the extraction of precious metals like gold and silver, is an important input for the gold mining firms operating in South Africa. Sasol has a monopoly position in
Read more »
Republicans tweak Brewers stadium repair plan to cut the total public contribution by $54 millionRepublican lawmakers in Wisconsin have tweaked their plan to help fund repairs at the Milwaukee Brewers' stadium to scale back the total public contribution by $54 million
Read more »
Microsoft dips after IRS says it owes another $29 billion in back taxesMicrosoft dips after IRS says it owes another $29 billion in back taxes
Read more »
Sri Lanka bondholders sent $12 billion debt rework proposal to government -sourcesSri Lanka bondholders sent $12 billion debt rework proposal to government -sources
Read more »