Janota to present alternative budget plans at informal meeting of government

Upon returning from Georgia Finance Minister Janota presented two alternative budget plans for 2010 to an informal meeting of the government Sunday. One proposal anticipates a record budget deficit of 230 billion crowns, while the other, promoted by the caretaker government, includes legal amendments intended to decrease the deficit to 160 billion. Mr Janota has said however he does not expect the government’s proposal to pass through parliament. The government proposal would see an increase in VAT rates and an increased tax on automobile fuels, as well as cuts to budget expenditures of 40 billion crowns. While not rejecting the proposal, the leaders of the Czech Republic’s two largest political parties have said that they do not want to make any amendments to existing budgetary legislation.