Final Word from Monday, September 15, 2003

ČTK reported that in July alone, foreign investors withdrew Kč 16bn in profits from the CR. This is nearly twice as much as in other months, the agency said. Ex-Premier Miloš Zeman told Právo that he has nothing against it when the rich Czech economy helps impoverished Western Europe by paying dividends but that it would be more responsible to use the money for Czech healthcare, schooling, etc. He said that ČSSD has betrayed its campaign promises by pushing for an increase in indirect taxes (VAT, excise taxes) instead of raising direct taxes, esp. corporate tax. The unions say that merely leaving corporate tax where it is now would raise an extra Kč 5bn per year. A speaker at Sat.'s labor protest said that foreigners and the rich are responsible for the hard times in the CR. The Vladimír Špidla cabinet has resisted such populist arguments so far, but for how long?


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