preložiť It will pour billions into the budget. Coalition approves consolidation package, votes unanimously despite disputes
Parliament finally approves the consolidation package. 79 coalition members voted in favour of the law. None of the amendments were passed by the opposition.
Watch the live input of journalist Diana Strušová before the vote on the consolidation package.
The approved legislation also amends the Social Insurance Act. The functioning of the so-called parental pension will be changed. "It is proposed to introduce the assimilation of a share of the income tax paid by parents as a substitute for the parental pension paid from social insurance, which is therefore deleted from the relevant legislation," the Ministry of Finance explained in the explanatory memorandum.
The limit of the maximum assessment base for payment of sickness insurance, pension insurance or unemployment insurance will also be increased from the current seven times to 11 times the average monthly wage in the economy of the Slovak Republic two years ago. This change will apply from next year, the original proposal was for 2026.
The law on the budgetary determination of income tax revenue for local self-governments is also being amended. One of the reasons for this is a change in the way kindergartens are financed. "The transfer of competences for kindergartens from original competences to the delegated exercise of state administration will reduce the percentage of share taxes transferred to municipalities by EUR 559 million," the Ministry of Finance quantified.
See the report on how the consolidation package was discussed the day before it was approved.
The modification of the Act on the special levy on business in regulated sectors adds another sector covered by the levy, namely the production of petroleum products and their chemical processing.
Conversely, in order to reduce the financial burden on regulated persons and to encourage the financing of the national debt by domestic entities, the proceeds of Slovak government bonds will not be included in the base of the special levy. "After the exemption of interest from the levy, entities should demand more bonds at the same interest rate," the Ministry of Finance assumes.
Due to several amendments to the laws, various parts of the consolidation package will come into effect gradually, the first of them from November this year.