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Published: 16 october 2019 17:28

Budget 2020 travels to Seimas: supported by bank and retail taxes for welfare

Vilius Šapoka ir Saulius Skvernelis
Žygimanto Gedvilos / 15min nuotr. / Vilius Šapoka and Saulius Skvernelis

Next year, the government will spend 9% more while the country’s economy will be 5% larger. This is the sort of budget that the cabinet approved unanimously and is now sending to Seimas. Funds are planned to be drawn from not only increased excises, but also a real estate tax, as well as banking and “large retail” taxes. If these taxes get suck in Seimas, the ambitious expenses may have to be cut, leaving the “Welfare State” more meagre. There are talks for a future universal real estate tax and an annual car pollution tax.

The cabinet unanimously approved the budget and is now sending it so Seimas. Prime Minister Saulius Skvernelis assured that massive work has been done and thanked ministers: “The budget will travel to Seimas and after presentation it will return here, whence we will have the challenge to balance it.”

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