“Expenditure will be rather high, but amid rapid inflation, the state also has inflationary revenue. It is very important to put it back into the economy in a way that would not increase inflation,” Majauskas told the radio station Žinių Radijas on Tuesday.
According to the MP, a raise in the tax-exempt amount of income means the reduction of labour-related taxes, which would encourage people to work, tackle social exclusion and people could choose how to spend their money.
The politician added that existing tax incentives for small and medium-sized businesses should continue to be applied. Like, for instance, reduced rate VAT for hotels.
Majauskas also said that in his opinion “now is not the time to discuss the introduction of new universal taxes”.
