Czech Finance Minister Miroslav Kalousek said he will submit a new 2013 budget draft in a month. The announcement came shortly after the government pulled the original draft off the Parliament’s agenda yesterday. The draft was dismissed because a group of senior ODS party deputies oppose the proposed tax hikes that both Kalousek and Prime Minister Petr Nečas had long insisted were necessary to push the budget deficit below 3 percent of GDP next year from the current 3.2 percent.
“If legislation on the revenue side cannot be approved, it is necessary…to choose a worse solution, which is lowering expenditures,” Kalousek said, according to Reuters.
