Richest Finns Face Extra Tax as Government Fights Deficits
- Finnish government will give itself a pay cut to aid budget
- Taxes are set to rise on housing, some fuels and tobacco
Juha Sipilae in Helsinki, Finland.
Photographer: Henrik Kettunen/BloombergThis article is for subscribers only.
Finland’s government unveiled a number of measures designed to cut its debt load, including extending a temporary tax on its richest citizens.
As Prime Minister Juha Sipila, a self-made millionaire and trained engineer, predicts budget deficits through 2019, his administration is searching for ways to generate additional revenue. Taxes will be raised on housing, some fuels and tobacco, the government in Helsinki said on Thursday. Sipila is targeting budget cuts of 4 billion euros ($4.5 billion) by 2019.