Latest news with #Orpo
Time of India
27-05-2025
- Politics
- Time of India
Germany and Finland say more pressure needed on Israel over aid
AP image FINLAND: Germany and Finland on Tuesday called for nations to "put pressure" on Israel to allow urgently-needed humanitarian aid into Gaza. Israel has in recent weeks expanded its offensive in the Gaza Strip, drawing international condemnation as aid has just started trickling in again following a months-long blockade that has caused severe food and medical shortages. German Chancellor Friedrich Merz, who in recent days has strongly criticised Israel, said humanitarian aid must be allowed into Gaza "immediately". "We must put pressure on Israel to ensure the aid truly reaches its target. But it is also crucial that Hamas must not prevent humanitarian aid from arriving," he told reporters alongside Finnish Prime Minister Petteri Orpo in Finland. "What we have seen in the Gaza Strip is in no way acceptable," Merz said, describing the impact on the civilian population as "excessive" while calling for an end to the killing and suffering. Orpo also pressed for humanitarian aid to enter Gaza urgently. "Humanitarian aid must get through immediately and we must put pressure on Israel to ensure that humanitarian aid does indeed get through, but also to ensure that Hamas does not prevent it from getting through either," Orpo said. "This is a terrible human catastrophe and we must be able to tackle it," Orpo added. In neighbouring Sweden, the Israeli ambassador was summoned to the foreign ministry with the Nordic country calling on Israel to "immediately ensure safe and unhindered humanitarian access to Gaza". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 9-Sekunden-Methode lässt Nagelpilz keine Chance Heilratgeber Weiterlesen Undo The Swedish foreign ministry in a statement noted Israel's right to defend itself but said that "the current way the war is waged is unacceptable". "Israel must fulfil its obligations to protect civilians and civilian infrastructure in accordance with international humanitarian law," the statement said.
Reuters
24-04-2025
- Business
- Reuters
Finland plans tax cuts to boost economy; to cut corporate tax to 18% from 20%
HELSINKI, April 24 (Reuters) - Finland's government announced tax breaks for companies and employees in an attempt to boost the country's ailing economy in a mid-term budget review it completed late on Wednesday. In office since June 2023, the government had promised to stop public debt from growing despite the economy's slow recovery from a recession. But at the mid-term budget talks, it chose to loosen its budget discipline and opt for tax breaks in the hope of boosting growth. Corporate tax will be cut to 18% from 20%, the government said, while employee income taxation will be reduced by a total of 1.1 billion euros ($1.25 billion). "We will make Finland one of Europe's most attractive countries for investments," Prime Minister Petteri Orpo told reporters after two days of budget talks. Boosting growth is essential to fund increased spending on defence and other government expenses, Orpo said. The Finnish economy shrank by 0.1% last year, according to preliminary data, while the Bank of Finland has warned 0.8% growth forecast for this year was under threat from tariffs and the global trade war. The tax breaks will be partially funded with a one-time withdrawal from the state pension fund, the government said. Finance minister Riikka Purra said the government remained committed to stabilising public debt by the end of 2027 but acknowledged it would miss its initial target of reducing the fiscal deficit to 1% of gross domestic product by then. According to finance ministry calculations, the deficit would shrink in 2026 and 2027 thanks to the pension fund withdrawal but then resume growth in 2028 and 2029 after the government's planned term. While the right-wing government had estimated the 2024 deficit to be 3.7% of GDP, statistics office data on Tuesday showed it had reached 12.2 billion euros, or 4.4%, well above the European Union 3% limit. The government now expects a 12.3 billion euro deficit in 2025. The government earlier this month announced plans to raise defence spending to 3% of GDP by 2029, from 2.4%, to meet growing NATO demands.
New Straits Times
24-04-2025
- Business
- New Straits Times
Finland plans tax cuts to boost economy; to cut corporate tax to 18pct from 20pct
HELSINKI: Finland's government announced tax breaks for companies and employees in an attempt to boost the country's ailing economy in a mid-term budget review it completed late on Wednesday. In office since June 2023, the government had promised to stop public debt from growing despite the economy's slow recovery from a recession. But at the mid-term budget talks, it chose to loosen its budget discipline and opt for tax breaks in the hope of boosting growth. Corporate tax will be cut to 18 per cent from 20 per cent, the government said, while employee income taxation will be reduced by a total of €1.1 billion (US$1.25 billion). "We will make Finland one of Europe's most attractive countries for investments," Prime Minister Petteri Orpo told reporters after two days of budget talks. Boosting growth is essential to fund increased spending on defence and other government expenses, Orpo said. The Finnish economy shrank by 0.10 per cent last year, according to preliminary data, while the Bank of Finland has warned 0.80 per cent growth forecast for this year was under threat from tariffs and the global trade war. The tax breaks will be partially funded with a one-time withdrawal from the state pension fund, the government said. Finance Minister Riikka Purra said the government remained committed to stabilising public debt by the end of 2027 but acknowledged it would miss its initial target of reducing the fiscal deficit to one per cent of gross domestic product by then. According to finance ministry calculations, the deficit would shrink in 2026 and 2027 thanks to the pension fund withdrawal but then resume growth in 2028 and 2029 after the government's planned term. While the right-wing government had estimated the 2024 deficit to be 3.70 per cent of GDP, statistics office data on Tuesday showed it had reached €12.2 billion, or 4.40 per cent, well above the European Union three per cent limit. The government now expects a €12.3 billion deficit in 2025. The government earlier this month announced plans to raise defence spending to three per cent of GDP by 2029, from 2.40 per cent, to meet growing NATO demands.
The Star
23-04-2025
- Business
- The Star
Finland cuts taxes to boost growth
HELSINKI, April 23 (Xinhua) -- The Finnish government announced sweeping tax reforms on Wednesday, aimed at boosting growth and strengthening the country's global competitiveness. Prime Minister Petteri Orpo said the top marginal tax rate on earned income will be lowered from 57 percent to 52 percent. The cuts are part of a broader plan to reduce taxes across all income levels, with a particular focus on supporting low- and middle-income earners. The state income tax reductions are expected to total around 1 billion euros (1.13 billion U.S. dollars) annually. To improve the business climate, the corporate tax rate will be reduced from 20 percent to 18 percent. Orpo said the measure is intended to attract investment and help Finnish companies compete internationally. The government also outlined several long-term policy goals alongside the tax changes. These include raising the share of young adults completing higher education to 50 percent of their age group, increasing defense spending by 3.6 billion euros by 2029, and expanding funding for internal security. Orpo said the reforms aim to encourage work, raise purchasing power, and position Finland to succeed in the global competition for investment and jobs. The Chamber of Commerce welcomed the reforms, while the Central Organisation of Finnish Trade Unions (SAK) criticized them, warning they could lead to lower state revenues and higher national debt. (1 euro = 1.13 U.S. dollar)
Yahoo
01-04-2025
- Politics
- Yahoo
Finland to withdraw from anti-personnel mine ban treaty
Finland's prime minister said Tuesday the country plans to withdraw from the international treaty banning anti-personnel mines, the latest signatory moving to ditch the ban over threats from Russia. Prime Minister Petteri Orpo said a fundamentally changed security environment in Europe prompted the decision by Finland -- a NATO member bordering Russia -- to pull out of the 1997 Ottawa Treaty. "Finland and Europe need to evaluate all measures to strengthen our deterrence and defence capabilities, individually and in NATO," Orpo said at a press conference. "We also propose that Finland starts to prepare for withdrawal from the Ottawa agreement," he added. The announcement comes two weeks after four other NATO countries on the military alliance's eastern flank -- Poland, Lithuania, Latvia and Estonia -- took a first step towards also quitting the treaty. All pointed to the increased security threat from Russia. Finland's parliament needs to back the government's decision, with the withdrawal going into effect six months after parliamentary approval. According to Iro Sarkka, a senior researcher at the Finnish Institute of International Affairs, the move from the Finnish government signalled that Finland -- which became a NATO frontline country when it joined the alliance in 2023 -- was ready to use all means to protect its national security, even if it meant compromising on international law. "While it is not the optimal solution from the viewpoint of international law, it will maximise military capability, and it is a cost-effective solution that maximises Finland's security," she told AFP. Finland shares a 1,340-kilometre (830-mile) border with Russia, and has been ramping up its defence and border security since Russia's 2022 invasion of Ukraine. In the wake of the invasion, the Nordic country dropped decades of military non-alignment and applied for NATO membership. Finland shut its eastern border with Russia in mid-December 2023 after the arrival of around 1,000 migrants without visas, with Helsinki claiming the surge was orchestrated by Russia -- a claim Moscow denied. Finland's Foreign Minister Elina Valtonen told reporters Finland was committed to its humanitarian responsibilities and the responsible use of mines, as well as to international agreements, but added: "Unfortunately, we have a neighbour who does not respect international agreements". - Eastern flank - Lithuanian Defence Minister Dovile Sakaliene welcomed Finland's plan to withdraw from the Ottawa Treaty, saying in a Facebook post it was "a clear sign that the region is serious about strengthening defence and deterrence". "The long-awaited and negotiated regional decision is now complete -- NATO countries bordering Russia are taking all the necessary measures to ensure that never again will the dirty boot of a Russian soldier cross our border," she said. Sarkka said the five countries' announcements of preparing an exit from the Ottawa Treaty indicated that "NATO's frontline countries are converging in terms of their defence policy in relation to Russia". The Ottawa Treaty prohibits the use, stockpiling, production and transfer of anti-personnel landmines. More than 160 countries and territories are party to the treaty, including Ukraine. Neither the United States nor Russia are signatories. Finland abandoned anti-personnel mines in 2012 when it joined the treaty, and subsequently destroyed more than a million mines. Orpo also said that Finland would boost its defence spending to at least three percent of GDP by 2029 and launch a reform of its defence forces to tackle a deteriorating security situation. "With these solutions, we will ensure that Finland's defence is in good shape for years to come. I am very pleased that these solutions have broad parliamentary support," he said. ank/jll/jhb
