The narrative of excess profits that recently sparked in public discussions in Lithuania was not accidental. Initially, business companies had been suspected of profiting from inflation. Then suspicions of undeserved profits hit banks. And here we are – digesting a proposal from the government to impose a special windfall tax on banks.
On March 20th, the Lithuanian Free Market Institute with its unique program of youth debates, Freedom Talks, opened Global Money Week at the Bank of Lithuania. At the inaugural event school youth teams met in a tournament to debate “Do we need money?” and “Can we buy anything with money?”
Some time ago, the Lithuanian Ministry of Energy issued recommendations for the public sector, households, and businesses on how to save energy. The recommendation was to disconnect hot water in administrative premises and reduce heating to 19 degrees and cooling to 27 degrees. They also advised public officials to work from home.
In today’s world, there is a shortage of workers everywhere. And we’re used to it. But when staff shortages hit airlines, it comes as a shock to many. A lack of pilots and flight attendants, a lack of baggage handlers. Every day there are hundreds of suitcases that don’t reach their final destination.
A second initiative to collect signatures to support a petition calling for an unconditional, universal basic income (UBI) for all citizens in the European Union (EU) has ended. The required one million signatures were never reached. Why?
The year 2021 brought to light what is otherwise invisible and unappreciated in normal times. Business people were unexpectedly commended for the growth of GDP. But what was the actual cost of growing it?
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.
Inflation is often referred to as a tax, imposed without parliamentary approval, without legislation and without considering the consequences. Today’s inflation is special: printing money seemed to be pretty much the only way to respond to the pandemic and to finance rising public spending.
Right before Christmas the EC presented a directive proposal targeting the profits of large multinational companies. The new rules propose imposing a minimum corporate income tax of 15% on large companies.
‘To serve or to rule?’ – this is a dilemma we face as we reflect on the fundamental principles of “the scope of powers [of the state] shall be limited by the Constitution” and “state institutions shall serve the people” on the occasion of the Constitution Day.
