Finland’s new budget to boost employment and innovation

The Finnish government has revealed its 2020 budget proposals, which include a raft of provisions to boost employment and innovation, cut carbon emissions and integrate foreigners. The draft budget earmarks more than €297 million for public employment and business services, including an extra €17 million for pay subsidies. Recognising that Finland is still falling behind in terms of competitiveness, the draft budget allocates additional funding to underwrite grants and loans given by Business Finland to the tune of almost €480 million. The government hopes this will encourage entrepreneurs and give startups some financial stability. “We have fallen behind competing national economies in innovation investment, so the government is investing in higher innovation funding. Part of the increase will be processed as government investment in the future, subject to ongoing detailed preparation” says Minister of Economic Affairs Katri Kulmuni.

- News Now Finland -



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