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In an effort to stem economic damage from the coronavirus pandemic, the Czech government has spent more than 100 billion Kč on various forms of stimulus, with at least 170 billion Kč more to come. Alena Schillerová, minister of finance for ANO, said on Sunday: “Just in direct support alone, we’ve taken 270 billion Kč worth of stimulus measures, which is already being distributed. Our goal is to implement all our relief programs in the shortest possible time.”  The anti-covid-19 measures come amid a massive drop in tax revenues, causing a widening of budget deficits across the board. The federal government has paid at least 13.3 billion Kč in compensation to self-employed people, with at least 6.8 billion Kč ofRead more.

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Following the abolition of the super-gross wage, political parties ANO and SPD have formed a coalition to replace it with a 15 % income tax to everyone earning under 137,000 Kč a month, and 23% to those earning more than that.  Opposing parties argue that the income tax won’t be big enough to keep the government within its annual budget, especially since it’s not being offset by any new taxes or revenue sources. Miroslav Kalousek, former minister of finance and leader of the TOP 09 party, said that “If Andrej Babiš’s amendment is approved, our budget is going to be a complete write-off.” President Miloš Zeman had his own reservations about the amendment, placing a 2-year limit on it beforeRead more.