BUSINESS BRIEFS

Cuts, cuts and more cuts

THE RULING coalition has agreed on a package of regulated price rises, tax increases and spending cuts that have been submitted to parliament for approval.

The government says the measures will save the state budget Sk25 billion ($550 million) next year.

The cabinet has agreed to cap social benefits to families at Sk10,400 ($240) a month, less than the sum of two minimum wages, as well as to cut jobless benefits to the long-term unemployed.

The government has also scrapped plans to buy Sk100 million ($2.3 million) worth of new cars to restock a government fleet that was last renewed in 1996.

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