LFMI

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?

In mid-February, the European Parliament, the European Commission, and the European Council are scheduled to continue the trilogue on the Digital Markets Act (DMA), a proposal aiming to curtail the anti-competitive behaviour of big digital market players and create a level-playing field for everybody.

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.

We are yet to find out what the nitty-gritty of the EC’s proposal will be, but the general idea is to make people operating via digital platforms, such as ride-hailing drivers and food delivery couriers, reclassify as workers.

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.

According to the Organization for Economic Cooperation and Development and the European Commission, impact assessments should be the rule, not the exception. In other words, impact assessment should not be a right but a binding habit of the legislator.

‘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.

Governments have responded to the pandemic by printing money, thus disrupting the usual economic relationships. Financial capital, which was long been regarded as a most-demanded resource, has lost its position to raw materials which in turn have lost to labor force.

The Lithuanian government seems to have a clear vision and arguments about how we should move towards the green economy. More importantly, everyone is invested in making an actual change happen. Increased public awareness is already impacting our habits and behaviors.