Smer’s 26th tax hike
Parliament’s social committee turned down the proposal of Smer MP and CEO of social insurer, Ľubomír Vážny, to raise the cap on pension levies from the current 7-times to 11-times the average wage in the economy. The increase would bring in €50m to SP annually.
Parliament will discuss the proposal shortly. If it is approved, this will be the 26th tax and payroll levy hike since 2012. This despite tax revenue exceeding plans every year. In 2006-16, successive Robert Fico governments increased public spending by 91%, while the average growth in the EU was 25%, in Czechia 36%, Poland 43% and just 13% in Hungary.