Billionaire Leader Gives Czechs a Tax Cut Against Virus Pain
- Lawmakers endorse motion to lower income tax for most Czechs
- Premier’s plan criticized as populist pre-election move
Czech Republic is grappling with one of the worst outbreaks of the pandemic in Europe.
Photographer: Milan Jaros/BloombergThis article is for subscribers only.
The Czech Republic will lower personal income tax next year as the government expects the move to help the economy recover from the coronavirus-induced recession.
The parliament approved the change proposed by billionaire Prime Minister Andrej Babis on Friday. He wants to broaden state stimulus beyond current measures like paying salaries of furloughed workers and subsidizing small businesses. Critics say he’s using budget handouts to boost his popularity before next year’s elections.