Government backs bill on budget responsibility

The government has approved a constitutional bill on budget responsibility which includes the setup of a national budget council and debt brake at 55 percent of GDP, cabinet spokesman Martin Ayrer told the Czech News Agency on Monday. The so-called financial constitution´s main aim is to limit a rise in state debt, a measure required by the European Union. It also reduces the size of debts of regions and municipalities. In order to pass, the bill will require a constitutional majority and will have to be signed into law by the president. According to available information, the centre-right opposition parties TOP 09 and the Civic Democrats are willing to back the bill, although TOP 09 has called for even stricter conditions.