Government approves measures to reduce deficit

(CIANEWS) - On June 28, 2023, the government approved a draft amendment bill aimed at incorporating the austerity measures from the government's recovery package into legislation. It amends 62 legal norms. The changes affect tax, budget, social security, transport and many other areas. Prime Minister Petr Fiala (ODS) said that if the consolidation package had not been approved, the budget deficit would have been CZK 98bn higher in 2024 and CZK 150bn higher in 2025. The set of changes introduces, among other things, a levy on employee health insurance, a new state coefficient for property tax. It adjusts excise duties, the gambling tax and reduces state support for building savings. The Prime Minister added that after technical adjustments, substantive changes may be made after the coalition in the Chamber of Deputies agrees.



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