Some respected economists identified the issue of consolidation in public budget already in 2022 as a third-order problem. From an analytical point of view, he is, of course, right. A one-year deficit of 10% of GDP is nothing compared to a permanent two to five per cent deficit in the pension system with a declining workforce.
On May 11, 2021, Lithuania celebrates The Day of Respect for the Taxpayers. On this occasion, the Lithuanian Free Market Institute (LFMI) invited everyone to thank all taxpayers for their contribution to the welfare of the country.
Hungary is the black sheep of the European Union. Its contrarian agenda offends the common opinion of other member states. Just recently, the Hungarian government not only threatened to veto the EU recovery budget but also voiced its opposition to the Gender Action Plan, a foreign policy initiative to buttress the rights of women, girls and LGBTQI worldwide. But don’t be fooled: behind this maverick political performance of the Orban government lies a shrewd and…
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.
Poland decided in favor of the veto partially in light of the EU’s activation of Article 7 on December 20, 2017. The Polish government is attempting to justify the veto by stating that it is defending itself and thereby affirming its power.
It could be argued that the EU is now paying the price for the incomplete settlement of the rule of law dispute during the July summit, when the multi-billion euro Corona recovery package and the seven-year EU financial framework were agreed.
Lithuania’s tax system is ranked the sixth most competitive and neutral in the OECD according to the Tax Foundation’s International Tax Competitiveness Index 2020 which was released on October 15.
I keep hearing news about yet another ambulance with COVID-19 patients driving around between hospitals looking for beds, the lack of a basic coordination system for allocating patients to hospitals, and I really have the impression that Poles live in some surreal, tragic reality.
In terms of its expenditure and revenue, the draft EU budget continues to diverge significantly from what would appropriately address current challenges facing the EU27 and contribute to its economic dynamism, welfare and security.