Prime Minister Petteri Orpo (NCP) appeared on YLE Ykkösaamu on 16 December 2023. In his New Year’s message, the premier reiterated his concern about the rising level of national debt and the case for further fiscal adjustments to bring indebtedness under control. (Vesa Moilanen – Lehtikuva)
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PRIME MINISTER Petteri Orpo (NCP) reiterated his concern about the rising level of national debt in his message for the new year.
“Finland is a country with a dangerous level of debt. Roughly every eighth euro spent is financed with new debt,” he stated, reminding that the economic outlook has deteriorated in recent months. “Increased interest expenditure, the situation in the well-being services counties and essential defence needs are examples of large expenditures that require borrowing.”
Orpo argued that the government has no choice but to agree on new adjustment measures in its upcoming framework session if it is to reach its goal of shaving six billion euros off the debt burden. The longer the measures are postponed, the more dramatic they will have to be.
Greater economic leeway, the premier underlined, is necessary to make sure the government is able to support people and businesses through difficult times also in the future.
“All of us have to acknowledge this fact: we are living beyond our means at the expense of future generations,” he stated. “The reduction in central government transfers to local government must be compensated with spending limits. We have already begun to look for solutions. The range of means must be as broad as possible.”
“Cuts alone will not be enough to get us back on our feet,” he acknowledged, identifying employment and economic growth as the only permanent solutions to the debt problem.
Orpo pledged that the government will also make investments to improve basic education, increase funding for research and development, and shorten wait times in the health care system despite the challenging times.
He wrapped up his message by reminding that the new year will be punctuated by two key elections: voters will select a successor to President Sauli Niinistö in January—February and their representatives to the European Parliament in June.
Both elections are an opportunity to participate in free and fair elections – in democracy – an opportunity that “is not a given” even today, he reminded.
“Democracy is something we must actively defend. Democracy also means the freedom to disagree. I hope that in the coming year, everyone will exercise the freedom constructively while respecting others,” he said. “When it comes to big issues, our small nation has shown its strength by being united. Finland and the Finnish people have coped even in the toughest times, and we will do so now, too.”
Aleksi Teivainen – HT
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Source: www.helsinkitimes.fi
