Romanian Social Democrats Promise 15% Profit Tax, Differentiated Taxation In No-Confidence Motion

The motion is made up of four chapters: „Why [Prime Minister] Emil Boc must leave;” „What Emil Boc leaves behind;” „What problems we will face after Emil Boc leaves;” „What solutions we will apply after Emil Boc leaves.” In the first three chapters, the social democrats write about „a government that humiliates every category of citizen,” „the general disaster in the economy,” „the impoverished population, turned by the Boc dynasty into a state policy.”

The final chapter contains a set of 33 measures to be taken once the incumbent government is removed. They include differentiated taxation and a 15% tax on profit. The social democrats also promise to repeal the 25% slash in public sector salaries and to introduce differentiated VAT rates, especially on basic foodstuffs, as well as restore the pensions of magistrates and military personnel to their previous values.

Vasilescu said the social democrats expect support from the MPs of the ruling parties, given the motion’s social themes and a statement by International Monetary Fund officials, whereby the decline of Romania’s economy will be the largest among European emergency economies this year.