Prof. Rumen Gechev: BSP Proposes Alternative Budget Based on Progressive Income Tax

Politics | November 23, 2020, Monday // 15:44
Bulgaria: Prof. Rumen Gechev: BSP Proposes Alternative Budget Based on Progressive Income Tax wiki

 

"There is no way for the Bulgarian Socialist Party (BSP) to vote for a budget that would sink the Bulgarian economy," This is what Prof. Rumen Gechev, floor leader of „BSP for Bulgaria” told the Bulgarian National Radio.

Prof. Gechev noted that a huge part of the Bulgarian citizens and firms are not protected.

“The Bulgarian citizens started dying on staircases owing to completely confused situation in our health system while the government has not stir a finger to improve it. For this reason the BSP has fulfilled its duty as the only and real opposition party. We have proposed an alternative budget based on the new European philosophy which takes into account Bulgaria’s specific characteristics. Our alternative budget is a guarantee for higher budget revenues of BGN 1,8 Billion, as well as BGN 500 Million lower budget deficit,” the Socialist MP commented.  

As regards the proposals of the BSP on the social sphere Gechev specified: “The tax income tax should become progressive. Only in Bulgaria the rich and the poor pay the same income tax. Moreover that in the EU Bulgaria ranks first in terms of polarization of the poor and the rich. This gap has been growing wider in recent months and tens of thousands families are living from hands to mouth and cannot afford medicines and good food. People with monthly earnings of up to BGN 3,900 (€ 1,950) will continue to pay 10% tax and they account for 2,100 Million employed Bulgarians.” 

 

Gechev underscored that there no examples in the world showing that low tax brings shadow economy in the light. “Could we say that the citizens of Switzerland, Germans, Americans, Spaniards or Portuguese, Czechs and Poles work in the grey economy,” the Professor asked rhetorically.

The left-wing MP referred to the statistical data about the situation in Bulgaria: “Our country is at the bottom of the list as regards investments per capita. According to the data of the Bulgarian National Bank (BNB), in the last month 46-percent decrease in foreign investments was registered in Bulgaria. This is an anti-record for the EU. The foreign and Bulgarian investors and capitals flee Bulgaria in panic. We are worse off than Serbia, which is not an EU member,” he said adding that the countries where income tax is progressive boast the largest foreign investments.

GERB inherited a debt of BGN 13,5 Billion, and by 2023 Bulgaria will owe BGN 40 Billion in debts. This will make our future generations be slaves,” Rumen Gechev explained before BNR listeners.

The BSP MP commented that his party is strongly against pouring money into health system without reforms. Bulgarian healthcare is not up to the European par and must be reformed. “We propose a different, European approach to pensions as well – recalculation should be done by 2016 in order to guarantee higher pensions in relation to GDP not the inflation only.”

The measures proposed by the BSP for solving Bulgaria’s sorest problem after poverty – the demographic crisis, were also mentioned by the MP. “We of the BSP propose a one-time aid for mothers who are students to be increased from BGN 2,800 to BGN 6,500. And one-time aid per a child for each employed Bulgarian family which payed their social insurance contributions with the last 24 months for each second and third child.  

The MP also said that owing to the progressive taxation the alternative budget proposed by the BSP envisions BGN 285 Million for municipalities and around BGN 400 Million for small- and medium-sized businesses. He added that the alternative budget of the left wing is pegged to the Bulgarian economy and will ensure the necessary funds.

 

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