Taxation | The Central Chamber of Commerce proposes a two percentage point income tax reduction for everyone

According to the Central Chamber of Commerce, an income tax reduction aimed at all income categories could curb the pressure for wage increases.

Companies the interest organization Keskuskauppakamari suggests that all income levels should be targeted with a two percentage point income tax reduction.

According to the Central Chamber of Commerce, the tax reduction would reduce the cost pressure of wage-earning families, increase the incentives to work and could curb the pressure for wage increases in the autumn negotiations.

The Central Chamber of Commerce would prefer a tax reduction instead of wage increases because the increases could lead to a spiral in which wages and prices rise at the same time.

“An income tax reduction for all income categories would calm those worried about rising prices,” CEO of the Central Chamber of Commerce Juho Romakkaniemi says in the announcement.

According to Romakkaniemi, an income tax reduction targeted only at low and middle income earners would reduce work incentives.

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The Treasury minister Annika Saarikko (Centre) has previously hinted in public that the income tax could be reduced due to inflation. This week, he has stated that the taxation of salaries and pensions can only be reduced if the social partners agree on moderate salary solutions.

Romakkaniemi does not support the idea that income tax reductions would be tied to wage increases.

“Tying income tax reductions to wage increases easily brings the state to the labor market table as a negotiating party,” he says.

Ministerial the proposal for the state budget announced on Thursday does not include proposals for income tax relief. Saarikko said on Wednesday that it would be justified to discuss the scale and timing of possible income tax cuts among the entire government.

The government meets to make decisions at the turn of August and September during the budget crisis.

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