YLE reports that despite the economic downturn in Finland, those who retain their jobs can expect to see an increase in real income of 4.6% this year.  By contrast, last year’s increase was 1.5%.

Quoting the Taxpayer’ Association, YLE notes that ”The group attributes the improvement to slowing inflation and tax cuts. This year earned-income taxes are to be lowered overall to the tune of 870 million euros. The government — under the lead of conservative Finance Minister Jyrki Katainen — has also removed some tax penalties for raising one’s earned income”

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One Response to “Wage Earner’s Purchasing Power Set to Rise in 2009 – in Finland”

  1. Smart says:

    Juandos, yes, the Europeans had a rude awakening rtnceely.The E.U. has much worse debt problems than the U.S., while gasoline prices are 2 1/2 times higher and natural gas prices are six times higher.I wonder how much further European living standards will fall?We could’ve produced an additional 1 million barrels a day of crude oil in 2011, instead of 120,000 a day, to lower prices and create jobs:EIA Expects Higher U.S. Crude Production Mar 7, 2012″U.S. crude oil production increased by an estimated 120 thousand bbl/d to 5.60 million bbl/d in 2011. A 390-thousand bbl/d increase in lower-48 onshore production in 2011 was partly offset by a 40-thousand bbl/d decline in Alaska and a 230-thousand bbl/d decline in output in the Federal Gulf of Mexico/GOM.The rise in production is driven by increased oil-directed drilling activity, particularly in onshore shale formations.”

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