Finland’s next government, encompassing five parties from the left and center of the political spectrum, will increase spending by about 4 billion euros ($4.5 billion), Iltalehti reported, citing a draft of the government program agreed on Friday.
The incoming cabinet, led by Prime Minister-designate Antti Rinne of the Social Democrats, is due to unveil its program and composition, including ministerial portfolios, on Monday. Here are some highlights of the planned measures.
Permanent spending will rise by 1.23 billion euros by 2023 compared with the plan announced in spring. It will boost spending on areas including education, improving income equality, and combating climate change. The government plans to spend as much as 3 billion euros on one-off measures and socially relevant experiments. Measures include rail and road infrastructure works. One-time measures will be funded by selling state-owned assets to ensure government debt won’t grow.
Planned tax revenue increase amounts to 730 million euros.
(By Kati Pohjanpalo)