Finland proposed stimulating economic growth at the expense of pensioners

The Finnish Ministry of Finance proposes to stimulate economic growth by raising the retirement age and abolishing child care benefits, according to the department's report.

“Increasing the retirement age and eliminating child care benefits could have a significant impact on employment in the long term,” the agency said in its Trust for the Future report.

The report presented by the ministry focuses on government measures that can be taken to stimulate the country's economy and reduce the ratio of public debt to GDP.

Earlier in September, the country's statistics office reported that Finland's public debt had risen from 75% to a record 90.3% of GDP over five years.

Finance Ministry officials also propose to reduce spending in the social sphere and healthcare, in particular, to review what types of treatment and examinations will be financed from public funds.

In addition, the ministry is considering cutting subsidies and tax breaks for companies. The department also plans to reduce the number of municipalities, which should help save 220 million euros.