Czech Taxes May Rise If Euro Woes Hit Economy, Hospodarske Says

The Czech cabinet may raise some taxes, including the value-added-tax, if the euro-area debt crisis prompts an economic slowdown and threatens to boost the budget deficit, Hospodarske Noviny reported.

The government may also shorten the work week as part of measures aimed at softening the impact of the economic crisis, the newspaper said, citing a document prepared by the cabinet’s economic advisory body.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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