Minister of Finance Annika Saarikko (Centres) reacted during the final plenary session of the spring term in the Parliament House in Helsinki on 28 June 2022. Saarikko on Wednesday conceded that significant income tax cuts may not be possible in the present economic situation, particularly if labour market organisations fail to exercise moderation on wage increases. (Markku Ulander – Lehtikuva)
THE TAXATION of wages and pensions can be lowered only if labour market organisations settle on moderate wage increases, estimates Minister of Finance Annika Saarikko (Centre), reports Helsingin Sanomat.
“An income tax break is still on the table. It’s important, though, to tie its implementation to the risk of recession looking large and us being assured that labour market organisations reach rational wage deals,” she stated in conjunction with the budget negotiations of the Ministry of Finance on Wednesday.