Romanian Social Democrat Says Taxes Should Not Be Hiked

Geoana said the current flat tax has reached its limits and, should he become president, he will organize a debate on this topic with the business environment, adding he would change the flat tax but not increase it.

The social democrats and Geoana have repeatedly supported the idea of regressive taxation, with lowered taxes for individuals with reduced income.

The leftist leader also said he would push for tax deduction for companies, but only after the economic crisis passes its peak.

As presidential hopeful, Geoana said he is convinced he will become president, and when he does he aims to form, before Christmas, a government of specialists from parties and, perhaps, several technocrats, where high-level political human resources allow it.

Later, he would promulgate the financial responsibility law, which keeps the government from making patchwork amendments in the Fiscal Code, since these would come into force six months after adoption.

Under the same law, the government would be banned from undertaking budget revisions without Parliament approval.

Continuing his speech as future president, Geoana said the Parliament majority he "hopes" to see "acknowledged" in the upcoming months will spawn a government that would not focus on access to resources, but on good government and transparency in the spending of public funds.

Geoana concluded saying the new government should partner up with the business environment and draw up an active and "perhaps not quite economically orthodox plan" against the crisis. Some of the "engines" that would relaunch economic development, in Geoana's view, would be: the employment of the entire local market, multiannual budgets for large infrastructure projects, identifying new foreign markets for exports, efficient accessing of EU funds.

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