EU citizens are collecting signatures for a petition demanding a universal, unconditional income for everyone. What does this mean? Everyone will have a living wage, regardless of what type of work they do or what contribution they make to the society.
The football season in Bulgaria has begun, and with it, a new contract for television rights has entered into force. The contract is for five seasons (until 2026), and the clubs, as announced by the Bulgarian Football Union (BFS) last year, will BGN earn 6.5 million each season. UEFA reports show that about 7% of the income of the First League teams in Bulgaria comes from television rights.
Just a few weeks ago IME presented the main challenges to social protection faced by Bulgaria in the post-pandemic period. One of the key takeaways was that Bulgarian social policy is unfocused, ineffective and that it flat out fails to address poverty and inequality. While such issues are mainly solved through economic recovery, new jobs and wage growth, the role of social policy should be focused as much as possible on those most in need.
The next five years will be crucial. Public finances should come out of huge deficits, and the lesson from the previous crisis is clear. Tax increases will never be temporary. Pulling the tax brake can serve as an additional “austerity” argument in the discussion on lowering the deficit.
Prior to the crisis triggered by the COVID-19 outbreak, the Lithuanian economy had been enjoying a rapid growth. Yet, while the number of available jobs had been increasing, the number of unemployed had remained steadily high.
The study presents different models which take into account the consequences for the individual, the state budget, and the labor market. The suggested reform variants make it a significantly more attractive option for Hartz IV recipients to work more, by raising income retention by up to 40 percent.
There is evidence showing that increases in mandatory minimum wage might force some firms to increase prices, lay off workers, cut fringe benefits for employees and engage in other revenue-boosting or cost-cutting measures.
With several policy proposals on introducing a progressive taxation model put on the table, the upcoming parliamentary session in Lithuania is sure to become a heavily debated one. In fact, every tenth taxpayer is threatened with higher tax burden as personal income tax might increase from a flat 15%up to 20%.
Two interesting debates are being led simultaneously in Slovakia. One on subsidies to support the mining of lignite in the upper Nitra region and the other on the unconditional basic income for all. The interconnection between the two could bring so many positive effects that I am left to wonder why nobody has thought of this so far.