Chamber of Deputies debating austerity package in its final reading

The lower house of Parliament has started debating the government’s austerity package, aimed at reducing the state budget deficit, in its final reading. The package will raise taxes for individuals and companies, introduce layoffs, lower wages in the public sector, and further increase consumer prices. It aims to save 94 billion CZK (around EUR 4 billion) in 2023 and generate potential savings of up to CZK 150.7 billion combined for 2024 and 2025. The measures have come under fire from the opposition parties, which are expected to table numerous amendments and delay the bill’s approval for as long as possible. However, the ruling coalition has a comfortable majority in both houses and is in a position to push it through.