Matovic: State Intends to Boost Support for Families with Children

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Finance Minister Igor Matovic (photo by TASR)

Bratislava, November 14 (TASR) – The state intends to support families with children to a greater extent than before, Finance Minister Igor Matovic (OLaNO) announced on Sunday.

Child allowances should increase from €25.5 per month to €30 up to the age of 18 and to €50 from the age of 18 until the completion of full-time university studies. Contributions for school clubs and tutoring should go up from €12 per child to €70.

The state is also going to increase the tax bonus from €23-46 to €70 per child under 18 years for everyone. A holiday bonus should rise from €6 to €30.

Contributions will vary depending on whether these are paid to working or non-working parents. The measures will monthly bring €200 per child to a family with at least one working parent and €100 to a family with non-working parents.

The increase in family support, presented by Finance Minister Igor Matovic (OLaNO) on Sunday, will swallow an extra €1.2 billion from the state budget budget.

The extra expenditures should be covered, for example, from a millionaire tax of 0.1 percent p.a. on property exceeding €1 million. However, this will require a property declaration to be filed by everyone whose assets are worth more than €1 million.

Other measures to ensure funding for the reform include a 2-percent slimming down of labour force in public administration and reduction of military spending, said Matovic.