Government negotiations on supplementary budget: A good FIM 6 billion towards State net debt amortisation

12.09.2000  |  Press release

The Government reached agreement on 12 September 2000 on the content of the second supple-mentary budget for 2000. General revenue is expected to increase by over FIM 2 billion more than forecast. FIM 690 million consists of tax receipts and FIM 1.2 billion of miscellaneous revenue, over one half of which is repayment of capital support to banks. In addition, the Government re-commends that FIM 5 billion of the cumulative surplus on the State financial statement should go towards the Budget.

The Government proposes that the whole of the increase in revenue be used to amortise net State debt. The sum of FIM 6 billion planned to be used on debt redemption raises overall debt amor-tisation to approximately FIM 23 billion for this year.

The supplementary budget includes, as in earlier years, a number of proposals made because it has been possible to be more specific about appropriations needs in fixed expenditure.

The revenue estimate for income and property taxes has been revised upwards by FIM 600 million and that for transfer taxes by FIM 450 million. The accrual in fuel taxes, instead, is expected to be FIM 900 million lower than anticipated, and the revenue estimate for taxes at source from interest income was revised downwards by FIM 150 million.

The supplementary budget will be submitted to Parliament on Friday September 15.

Inquiries:

Director General Timo Viherkenttä, puh. +358 9 160 3105 and

Deputy Director General Hannu Mäkinen, puh. +358 9 160 3036

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