The MEP is convinced: we need to stop living on credit and it is time to seriously reduce the main taxes.
"When I was Prime Minister in 1999, I managed to adopt a budget without a deficit. In the entire recent history of Latvia, there have been two budgets without a deficit - under my government and under Kalvitis' government. At that time, the national debt was half a billion, but now Latvia's debt has already exceeded 21 billion! Latvia keeps borrowing and borrowing, but where are the results?! We are still at the bottom of the EU in all key economic indicators!" lamented MEP and candidate for the post of Minister of Finance from the 'Latvia First' party, Vilis Kristopans. He believes that if taxes are lowered, the treasury's revenues will only increase! According to the MEP, a single rate of 10 percent should be established for personal income tax, corporate income tax, and capital gains tax (dividends).
Speaking about the reasons for Latvia's economic lag behind Lithuania and Estonia, he mentioned the so-called "capital repair of the financial system," which led to the outflow of all non-residents from our banks. This segment of the financial business has relocated to Lithuania.
"When I become Minister of Finance, and Ainars Slesers becomes Prime Minister, we will create an open economy in Latvia and do everything to become the best small open economy in the EU!" stated V. Kristopans.
