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Danas Arlauskas, president of the Lithuanian Employers’ Confederation, told BNS last week that the memorandum will commit employers not to cut wages due to planned tax cuts.
The memorandum will be signed by the Infobalt associations, the Investor Forum, the Lithuanian Employers’ Confederation, the Confederation of Industrialists, the Lithuanian Association of Chambers of Commerce, Industry and Crafts and the Lithuanian Solidarumas and Sandrauga Union.
The Lithuanian Trade Union Confederation decided not to participate in the signing. According to its president, Inga Ruginienė, there are no real obligations of employers in the agreement.
On Monday G. Nausėda will also discuss his proposal with Prime Minister Saulius Skvernelis. As the president’s spokesman, Antanas Bubnelis, told BNS, the meeting will also discuss economic stimulus measures and the electronic toll package.
The President proposes to Seimas to temporarily reduce the personal income tax rate from 20 to 15 percent by the end of the year, applying it to the income of employees of up to three average wages, as well as to advance the increase in income free of taxes at 50 euros.
The Ministry of Finance and the Prime Minister do not support the reduction of the GPM. According to the ministry, some employers are very likely to use the GPM reduction as a measure of liquidity; they would also reduce pretax wages, keeping the same income “in their hands.”
The president’s proposals would cost the state around half a trillion euros. G. Nausėda presented these proposals to Seimas on Wednesday, but Seimas has not yet considered them.
Governing “peasants” are skeptical of the initiative to lower the PIT rate, which they say would earn more for high-income people. According to the “farmers”, it is more socially fair to increase the NPD faster: they propose to increase this amount by 100 euros.
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