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Ceturtdiena 19.10.2017 | Name days: Drosma, Drosmis, Elīna
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Vejonis asks Reizniece-Ozola to address envelope wage problem more seriously

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU«We need a tax policy that will reduce social inequality of our country’s residents, stimulate formation of businesses and enhance society’s trust in state administration,» – said Latvian President Raimonds Vejonis during his meeting with Finance Minister Dana Reizniece-Ozola.

«Our goal is to ensure residents become wealthier. We need to combine efforts to help the middle-class grow, as they are the foundation for a stable and democratic county,» – Vejonis emphasized.

In his conversation with the minister, Vejonis noted that establishment of the main points of the tax policy should be the government’s priority goal that needs to be accomplished before April. The development process should include opinions of Latvian businessmen and experts, as well as assess recommendations provided by international institutions, as reported by the State President’s press-service.

The president also asked the minister to consider the use of energy tax as an opportunity to reduce labour tax and establish Latvia as an energy-efficient, environment and climate friendly economy. The president’s formed Energy Security Commission concluded that less energy-intensive economies develop most rapidly in the world nowadays. With continuing urbanization, which offers options for organization of effective economic life, and accomplishment of climate goals, use of environmental tax is becoming more and more popular in the world.

The president’s press-service reports that Vejonis criticized the government’s overall progress in reducing grey economy. The president asked the minister to address the problem of envelope wages, undeclared income and VAT fraud. According to experts, the grey economy was equal to 21.3% of GDP in 2016. This is more than what was recorded in Estonia and Lithuania.

During their conversation regarding the budget’s development and approval, Vejonis asked the minister to offer solutions more actively, as well as allow Seaima deputies to become involved in the budget development process at a much earlier stage. It would make the budget formation process more transparent and make budget related legislation better.

Ref: 224.109.109.5092


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  1. Ilmars says:

    The best thing that Vejonis could do to address the problem of envelope wages is to sack Reizniece-Ozola.
    This is the most useless, incompetent finance minister that Latvia has ever had.

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