Experts ponder new cabinet's economic policy

THE POST-ELECTION government should preserve the reforms that have had a positive impact, economists agreed during a debate on Slovak Radio on June 24.

ING bank's Ján Tóth said the present economic situation is the best since 1993, when Slovakia became an independent state.

If the new government wants to increase social spending, it should seek resources to do so by improving the effectiveness of public spending and eliminating unnecessary subsidies. Tóth also said that additional taxation in the banking sector or reducing VAT rates, as election winner Smer has suggested, would be a step in the wrong direction.

President of the Association of Industry Slavomír Hatina said that both the flat rate tax and the current form of the Labour Code should be preserved.

He warned that creating exemptions in tax reform legislation would motivate the business community to seek loopholes in the law. The reintroduction of a tax on dividends would not have any tangible positive impact on state budget resources, he said.

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