The proposal has a deficit of about 10 billion euros.
Next more detailed guidelines on government spending cuts and other financial decisions planned for the year will be available today, when the Ministry of Finance (MoF) publishes its budget proposal in its entirety.
The Treasury minister Riikka Purra (ps) presented the main outlines of the budget proposal already on Friday. The proposal for next year’s budget is 10.1 billion euros in deficit.
According to the budget proposal, the government’s austerity decisions would reduce the state’s expenditures next year by 0.7 billion euros.
In addition, the government plans, among other things, to reduce labor taxation by around 100 million euros from the beginning of next year. The tax reduction would be implemented by increasing the work income deduction.
Fuel taxation is also planned to be lowered from the beginning of next year, which will compensate for the effect of the increase in the distribution obligation in later years on fuel pump prices.
Next year along with the budget proposal, the Ministry of Finance also publishes today a proposal for a framework decision on the state finances for the years 2024–2027. The frameworks guide the state’s spending in the coming years.
It was already reported on Friday that according to the Ministry of Finance’s proposal, the state economy would remain in a clear deficit throughout the current election period. Even in 2027, the deficit is expected to be more than nine billion euros.
The preparation of next year’s state budget continues with the bilateral negotiations of the Ministry of Interior and other ministries. After that, the government will meet to prepare economic guidelines for its budget rush on the 19th-20th. September
The government’s proposal for next year’s budget will be announced on October 9.
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