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The Government will probably have to introduce additional budgetary measures to be able to balance the public economy, admits Alexander Stubb (NCP), the Minister of Finance.Alexander Stubb (NCP), the Minister of Finance, has shed light on the outlines of the upcoming economic policy decisions of the Finnish Government.

Stubb acknowledged in an interview on YLE TV1 on Friday that the Government will probably have to resort to additional budgetary measures to be able meet its objective of creating savings of four billion euros. “However, it's too early to say where, how and how much at this point,” he emphasised while discussing the Government's upcoming framework session.

He also estimated that the means at the Government's disposal include further spending cuts and certain tax measures, but not additional borrowing. “Additional borrowing is not on the table – absolutely not,” he stressed.

The tax system, on the other hand, can be adjusted “one way or the other,” according to the Minister of Finance. The Government will nevertheless abide by its decision not to raise taxes on earned income.

“But we must have the possibility to adjust indirect and Pigouvian taxes,” argued Stubb.

Aleksi Teivainen – HT
Photo: Roni Rekomaa – Lehtikuva
Source: Uusi Suomi

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