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“Yesterday I signed a law that provides a one-time benefit of € 200 for our seniors and other low-income people.
For a time there were doubts about whether to veto and present their proposals. But we went the other way. Not through denial, but through affirmation, “he said.
Mr. Nausėda added that at the same time as the law was signed, he had coordinated positions with the ruling coalition and some other parties on supporting proposals that would complement the impact of these measures.
“We will submit to Seimas the amendments to the law that stipulate a one-time payment of 200 euros for low-income families with many children or who raise a disabled child.”
We will also make a lump sum offer of EUR 120 for other children. This is practically the child’s current monthly money multiplied by two, “he said at a press conference.
Mr. Nausėda also said that he had not found a compromise with the next proposal, but that he would still present it to the Seimas, as this would provide an opportunity for diverse discussion.
“T. and. Reduction of the personal income tax rate from 20 to 15 percent, which will be valid from July 1 to the end of the year.
This tariff reduction will be applied to 3 average wages (about 4,000 euros on paper – Delfi). Other income that exceeds this amount will continue to be subject to 20%. and high incomes are subject to an even higher rate. These rates do not change.
With this proposal, we would have something like a progressive three-tier tax system.
Our other proposal is that the previously planned increase in tax-free income of 50 euros comes into effect from this year, and not from the beginning of next year. This will have a positive effect on people with the lowest incomes, “said the president.
500 million euros
According to the Presidency report, the total value of the measures presented by G. Nausėda would reach around 500 million. euros
“The benefits of economic stimulus measures must be perceived by both the lowest-income Lithuanians and the heavily taxed middle class, on which the country’s future depends. Now is the time for the state to make clear it will leave nothing in trouble. Today, we need to lay the foundation for the trust that will unite the forces of society and public authorities to work together more sustainably in the future, “the report said, as he cited.
According to the head of the country, his previous experience in talks with the Government and the Seimas influenced him positively, when he managed to coordinate support for the microenterprises started by the Presidency. “We are already convinced that in the conditions of the crisis we can find a consensus on the necessary solutions. I am sure that we can also agree that to overcome the atypical crisis, atypical and fast-acting measures are needed,” said the President.
The economic stimulus plan presented by G. Nausėda was born from intense discussions with the Nobel Prize in Economics Robert Shiller, economic and financial experts, workers ‘and companies’ associations, representatives of political parties and the Government. A temporary reduction in the PIT rate is proposed once it is ensured that local budgets will not suffer as a result, under current law they will receive compensation this year.
The proposed measures are said to stimulate the economy in 2020 and will not create long-term commitments in the country’s budget, so these changes will be fiscally sustainable and will not affect the financing of public services in subsequent years.
“Due to the projected economic crisis, Lithuania is again threatened by high unemployment and emigration. But unlike a decade ago, we are facing the current crisis incomparably stronger. We need to not only feel stronger, but also demonstrate this immediately through concrete actions.
We need simple, fast-acting economic stimulus measures that temporarily increase workers’ incomes, stimulate consumption, and help preserve jobs, ”said G. Nausėda.
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