Economy

At the opening of the annual conference on technology, entrepreneurship, and innovation on May 24 Prime Minister Kaja Kallas (Reform) said that it is important to seize the opportunity to invest in defense technology because it will strengthen security and boost the economy. In her speech she emphasized that \"The changed security situation in Europe has clearly shown the need for increased investment in defense.

The latest edition of the Simon Abundance Index 2024 reveals how global resources are growing faster than population, disproving common concerns about the depletion of natural resources due to population growth. The fact that we live in a time of greatest abundance is only a consequence of simple market principles.

After joining the European Union, the Czech economy experienced rapid growth. Exports to EU countries soared from 25 billion euros to 188 billion euros in 2022. The growth rate of foreign direct investment increased fourfold after the Czech Republic joined the EU. GDP per capita rose by an impressive 46%. These figures speak clearly: being part of the European Single Market has become essentially vital for the Czech Republic.

In the Czech Republic, there has been a long-standing discussion about the possibility of taxing still wine. This issue is particularly relevant during times of economic crisis when the state is looking for ways to increase tax revenues. However, the introduction of new taxes should be based on a thorough analysis of impacts and should consider the insights and interests of all stakeholders involved to ensure that the tax is neither unnecessarily costly nor ineffective.

The twentieth anniversary of the entry of Poland and nine other countries into the European Union is a good time to remind ourselves of the benefits associated with this. In the Economic Freedom Foundation\'s report, we focus on what is most important for the Polish and EU economies – the Single Market. More than thirty years since its creation, it can be considered a great achievement and the foundation of European economic development.

In 2035, the ban on combustion engines is set to become a reality at the EU level. From that point onwards, only pure gasoline or diesel vehicles should no longer be allowed to be sold. But what does this decision entail? To understand: The combustion engine ban pursued by Ursula von der Leyen does not entail a complete prohibition on driving conventional combustion engine vehicles starting in 2035.

The debt brake repeatedly sparks discussions and as the next budget negotiations in Germany draw nearer, voices calling for a relaxation of the rules on debt limitation grow louder. There were good reasons for its introduction, including the ever-increasing public debt burdens. The public debate in Germany is primarily conducted with unproven theses, assumptions, and assertions, as there has been no comprehensive study on the impact of the debt brake.

Economics and finance are an inevitable part of everyday life for every individual. Economic decisions accompany us at every step: when buying products, saving money for education, retirement, or vacations, choosing a profession or a job, paying utility bills, loans, taxes, and so on. And how well-informed these decisions are directly impacts our individual and collective future.

We all want higher wages for less work. This explains why the four-day working week is such a popular topic in the media. But it is even less of a justification for the emotions that run high when the subject is discussed. These, in turn, prevent rational argumentation and consideration of all the problems with this popular proposal.

A new regulatory avalanche is rolling in on entrepreneurs. The Ministry of Labour is about to implement the EU Gender Pay Directive. This introduces new bureaucratic obligations for entrepreneurs. They will have to inform about the criteria they apply when setting wages in the company and define the pay procedure so that the employee knows what he or she has to do to get higher pay.