Financial Services, Latvia, Legislation, Markets and Companies, Taxation

She admitted that she was not happy how the budget formation process transpired.

"Already in the spring, I called for discussions with business organizations about tax policy, but this was not done. New proposals were offered in a short period of time, and there was no time to discuss them. I, too, believe that instead of a solidarity tax, capital tax would be a more efficient solution, but quality analysis would take time," said the minister.

Reizniece-Ozola understands why business organizations are indignant at having no opportunity to be heard. "This has been happening for many years," she said.

At the same time, the minister was pleased with the way how electricity prices were handled. "It is clear that increasing the minimum wage and the non-taxable minimum would not have achieved anything if not for the successful agreement on limiting the mandatory procurement component's growth. Otherwise, electricity bills would have eaten up all the additional income of private households," said Reizniece-Ozola.