Discussion of the nationally important issue: "How can the state avoid living in debt?"
Session: 15th Riigikogu, 3rd sitting, plenary sitting
Date: 2024-05-30 13:01
Total Speeches: 109
Membership: 15
Agenda Duration: 3h 15m
AI Summaries: 109/109 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
Under the first agenda item, the topic of the national debt burden and the long-term sustainability of state finances were discussed under the theme "How can a state avoid living on credit?" The session featured presentations by Annely Akkermann, Chairman of the Finance Committee; Gunnar Okk, Vice President of the Nordic Investment Bank; Ülo Kaasik, Vice President of the Bank of Estonia; and academician Urmas Varblane. Following their presentations, a Q&A session was held, and representatives of the parliamentary groups were given the opportunity to speak. Negotiations followed, and the initiator requested that the session be extended until the end of the sitting or at least until 2:00 PM, should the exhaustion of the agenda require it. The vote on the extension yielded a positive result, after which the discussion continued, focusing on considering possibilities for cost and revenue savings and the role of investment in stimulating the economy. In summary, the focus was placed on the risks associated with debt growth, the need for international experience, and consensus in formulating long-term economic policy. The final note of the session involved a broader consideration of balancing budgetary rules and investments, and the inclusion of local and international mechanisms.
Decisions Made 1
Extend the session until the agenda is completed, but no later than 14:00. Overall support in the vote: 40 in favor, with no one against and no abstentions.
Most Active Speaker
Identifier of the most active speaker: Gunnar Okk (Vice President of the Nordic Investment Bank). Expected political position: Other (representative of an international financial institution). He spoke repeatedly and led discussions concerning the role of international financial institutions and the impacts of sovereign debt and loans.
Aseesimees Jüri Ratas
AI Summary
Ratas outlined the procedure for the first item on the agenda, informed the group that there would be no final vote on the discussion, and proposed extending the session until the agenda was completed, but no later than 2:00 PM, asking the participants to state their position and cast their vote.
Aseesimees Jüri Ratas
AI Summary
Ratas announced that the motion received 40 votes in favor, with no votes against or abstentions, and invited Annely Akkermann, the Chair of the Finance Committee, to the Riigikogu podium for her presentation. The presentation itself may last up to 20 minutes, followed by up to 10 minutes for answering questions.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
Annely Akkermann emphasizes that to prevent the country from running up debt, the budget must be controlled, expenditures cut, indexation limited, and a transparent, responsive, and flexible budget created.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas commends the young people for choosing to study economics at both the University of Tartu's Faculty of Economics and TalTech's Faculty of Economics, and announces that we will now proceed to the questions.
Irja Lutsar
Profiling Eesti 200 fraktsioonAI Summary
Irja Lutsar states that the Estonian economy and finances are in crisis, and she recommends that the government form a scientific advisory council, similar to the one used during the pandemic. Her reasoning is that experts don't worry about re-election and would therefore be able to explain the situation to the public and build trust. What are your thoughts on this?
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
The state is consolidating various economic forecasts, analysts' reviews, and the advice of the Budget Council to create a comprehensive picture of the economy. Furthermore, it is considering establishing a Science Advisory Board, which provided assistance during the COVID crisis and could also offer support in making the current difficult decisions.
Aseesimees Jüri Ratas
AI Summary
Vice-Chairman Jüri Ratas invites Mario Kadastik to speak.
Mario Kadastik
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Mario Kadastik stressed that many costs are indexed or depend, for instance, on the minimum wage, and thus grow automatically with GDP. However, on the revenue side, only about a third of that growth is proportionally included. He then asked how much of the growth is already locked in upfront, and how much the cost side automatically increases when revenues rise.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
Annely Akkermann stated that although the budget is larger than the revenue, approximately 90% of the state's expenditures are already pre-committed, and the growth in costs primarily hinges on wage growth, which might approach 100% this year. Concurrently, less than 14 billion is collected in taxes, and European Union grants and dividends must be utilized in a way that prevents them from affecting the core budget.
Aseesimees Jüri Ratas
AI Summary
Vice-Speaker Jüri Ratas invited Igor Taro to speak.
Igor Taro
AI Summary
Igor Taro stressed that stabilizing public finances requires utilizing both expenditure cuts and revenue increases. He then posed the question of which expenditures are essential in Estonia and where funds should be directed to ensure economic improvement and revenue growth.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
Annely Akkermann emphasizes that the cornerstones of Estonia's competitive business environment are a unified, simple, and low tax system alongside effective tax collection. Furthermore, 1% funding allocated to research and development should foster innovation, which is critically important for growing the Estonian economy, given its small and aging population.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas asked to give the floor to Anti Poolamets.
Anti Poolamets
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Anti Poolamets claims the state treasury is empty because economic growth is stagnant and ideas are lacking. Funds are being wasted on pointless projects, such as research and development and the study of Noctilucent Clouds. Meanwhile, rising energy prices are crippling businesses, and he is calling for short-term solutions to ease the pressure of impending bankruptcies.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
Last year, Estonia’s energy price was average and among the cheapest in Europe. However, the price volatility resulting from Russian market manipulation and the initial shock of the war, coupled with high network tariffs for major consumers, indicates a need to ensure lower fees for large users and to place the grids underground in the Lääne-Saaremaa and Võru regions to prevent connection interruptions caused by cyclones.
Aseesimees Jüri Ratas
AI Summary
This is just a request to invite Aivar Sõerd to speak.
Aivar Sõerd
Profiling Eesti Reformierakonna fraktsioonAI Summary
Aivar Sõerd points out that while Estonia's government sector debt presents a negative outlook, the total Eurozone debt remains steady at around 90% of GDP. Furthermore, former problem states like Greece, Spain, Portugal, Cyprus, and Ireland have successfully reduced their debt, which prompts the question of how they achieved this and what lessons can be learned from this trend.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
The presentation emphasizes that Estonia must keep its budget right at the limit of the Maastricht criteria by cutting its own fixed costs, in order to avoid pressure from creditors and a Greece-like debt crisis. It also uses the example of Greece to show that economic growth and servicing existing loans can reduce the debt-to-GDP ratio.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker of the Riigikogu Jüri Ratas thanked the presenter and for the answers, and invited Gunnar Okk, Vice President of the Nordic Investment Bank, to the Riigikogu rostrum.
Põhjamaade Investeerimispanga asepresident Gunnar Okk
AI Summary
Gunnar Okk explains how international financial institutions operate and what their primary objectives are in promoting long-term investments and mitigating crises. He highlights Estonia's largest voting share (12.5%) in the Nordic Investment Bank, and stresses the importance of credit ratings and responsible lending, where loans are long-term and financed via international capital markets.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas thanks the presenter, invites questions, and thanks everyone for the efficient use of time. Igor Taro, please proceed.
Igor Taro
AI Summary
Igor Taro thanks the manager and the server, and asks what the impact of an extraordinary additional levy on commercial banks would be for covering state expenses and reducing the debt burden, and how it would affect Estonia's long-term investment and economic climate.
Põhjamaade Investeerimispanga asepresident Gunnar Okk
AI Summary
He confirmed that he represents an international financial institution which does not assess the internal politics of countries and requires all member states to be treated equally, meaning he could not comment on the specific question.
Aseesimees Jüri Ratas
AI Summary
Jüri Ratas turns to Urve Tiidus and asks her to take the floor.
Urve Tiidus
Profiling Eesti Reformierakonna fraktsioonAI Summary
Urve Tiidus asked whether, given Estonia's good infrastructure, it is justified to take out a larger loan even in the current economic situation.
Põhjamaade Investeerimispanga asepresident Gunnar Okk
AI Summary
He stresses that long-term investments generate long-term revenue for the state, and they must be implemented based on a prioritized schedule and tailored to specific circumstances, because even with the greatest needs, you cannot do everything simultaneously.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas addresses Liina Kersna and makes a request to her.
Liina Kersna
Profiling Eesti Reformierakonna fraktsioonAI Summary
Liina Kersna emphasized the importance of investing in research and development (R&D) for the sake of economic growth. She then asked the Nordic Investment Bank how much they had invested in R&D projects and which sectors they prioritized.
Põhjamaade Investeerimispanga asepresident Gunnar Okk
AI Summary
Gunnar Okk stated that the Nordic Investment Bank has financed research and development (R&D) activities in various owner countries across both the energy and manufacturing sectors. However, they do not finance very high-risk projects or start-ups. When assessing risks, they look at who the risk-taker is; if the risk-taker is an institution, organization, or company that has sufficient collateral, the loan will be repaid even if the project is unsuccessful. Our resources are limited, and our scale is smaller than that of major banks, which is why our risk tolerance is lower, although we have increased this level over the years. All decisions are made by the Board of Directors, which includes representatives from eight countries—Estonia has two members on the Board—and decisions are made jointly, naturally based on the bank's interests and taking into account the political preferences and priorities of the different member states.
Madis Kallas
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
The presenter inquired how the Nordic Investment Bank addresses aspects of regional inequality within a country, and specifically, whether the distribution of national wealth or GDP across regions is taken into account during investment planning, and if this subsequently influences their investment decisions.
Aseesimees Jüri Ratas
AI Summary
The Vice-Chairman invited Madis Kallas to the stage.
Põhjamaade Investeerimispanga asepresident Gunnar Okk
AI Summary
Okk said that the Nordic Investment Bank does not make assessments between countries or take a position on which one is better. Instead, it only finances projects if the applying municipality or state deems them important and is prepared to take out a loan. Tallinn and Tartu are our clients, and the goal is to increase regional employment through the relocation of production.
Aseesimees Jüri Ratas
AI Summary
Mait Klaassen is invited to speak.
Mait Klaassen
Profiling Eesti Reformierakonna fraktsioonAI Summary
Mait Klaassen asks whether the Nordic Investment Bank grants loans to member states when they can no longer obtain financing from the international financial market, and whether this creates competition or conflict, and whether he considers investing in higher education to be an investment, and if we are moving in the right direction in this area.
Põhjamaade Investeerimispanga asepresident Gunnar Okk
AI Summary
Gunnar Okk stated that investing in higher education is naturally beneficial. He noted that the bank is able to provide loans for highly specific projects, such as developing university real estate and laboratories. Both the University of Tartu and Tallinn University of Technology are counted among his clients, alongside universities from larger nations, serving as tools for their respective owner states and prepared to quickly offer assistance during a crisis—just as Estonia received 750 million in supplementary funds within two weeks during the 2020 coronavirus crisis.
Aseesimees Jüri Ratas
AI Summary
Jüri Ratas thanked the speaker and the answers, and noticed the smiles on people’s faces. He then invited Ülo Kaasik, Deputy Governor of the Bank of Estonia, to the Riigikogu rostrum for a presentation, and asked how to declare the aforementioned bank ownership in the declaration of economic interests.
Eesti Panga asepresident Ülo Kaasik
AI Summary
Ülo Kaasik emphasized that Estonia must curb the rapid growth of its debt burden and find a balance between increasing revenues and cutting expenditures, while simultaneously ensuring stable budget rules, regularly reviewed by experts, which allow borrowing and investments to be managed securely during crises.
Aseesimees Jüri Ratas
AI Summary
Jüri Ratas thanks the Vice President for the presentation and announces that we will now move on to many questions, calling on Igor Taro.
Igor Taro
AI Summary
Igor Taro thanks the chairmen and presenters, notes that he will pose the same question for a second time, recalling that the previous presenter was unable to answer due to the constraints of their official position, and asks what the long-term impact of extraordinary additional taxation on commercial banks would be on the investment and economic environment.
Eesti Panga asepresident Ülo Kaasik
AI Summary
The Bank of Estonia does not directly issue recommendations regarding the imposition of taxes. Should such a taxation option even begin to be considered, it must be short-term (within one to two years), take into account the uncertainty of the investment environment, and not undermine long-term fiscal policy, the debt burden, or economic growth. This is because increased taxation of banks could be passed on to clients through deposit conditions and loan prices, which would consequently have a negative impact on economic growth.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas invites Liina Kersna to take the floor.
Liina Kersna
Profiling Eesti Reformierakonna fraktsioonAI Summary
Liina Kersna pointed out that the government plans to reduce research and development funding due to the negative supplementary budget, and she asked whether the state could use borrowed money to invest in R&D instead of cutting that funding, especially considering that the private sector already invests more in R&D than the state does.
Eesti Panga asepresident Ülo Kaasik
AI Summary
Ülo Kaasik said that the loan must have a long-term benefit, and the entire expenditure base should be reviewed broadly and transparently, prioritizing the funding of research and development, taking into account the state's capacity to spend, and ensuring the stability of funding to avoid long-term problems resulting from one-off cuts.
Aseesimees Jüri Ratas
AI Summary
The host requests that Maris Lauri be called to the stage.
Maris Lauri
Profiling Eesti Reformierakonna fraktsioonAI Summary
Maris Lauri recalled the discussions from the early 1990s regarding the risks of loans and debt. She stressed that a loan is not tax revenue and must be repaid, and she then raised a question about the expenditure limit in the budget rules: what it should include and how it should be assessed—for example, whether nominal GDP growth could be used as the basis.
Eesti Panga asepresident Ülo Kaasik
AI Summary
The structural budget deficit is a constraint on both expenditures and revenues, and it is difficult to measure and publicly communicate. However, the European Union's budgetary framework is changing, and if Estonia enters the excessive deficit procedure, a net expenditure limit will be applied, and certain expenditures must be deducted. Nevertheless, by raising tax revenue, more expenditures can be made, which helps keep expenditure growth under control during good times.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas called upon Andre Hanimägi to speak.
Andre Hanimägi
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Andre Hanimägi highlights that the concept of sovereign debt is difficult to grasp when compared to a mortgage. He offers examples from the U.S. and Greece, and then asks what the long-term effects of such massive state debt would be, and specifically what Greece experienced during that crisis.
Eesti Panga asepresident Ülo Kaasik
AI Summary
He cites the example of Greece, stating that while reforms and economic growth help, a limit must be kept on the debt burden for crises, and a reserve created that would allow for quick borrowing and covering defense spending if necessary.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas thanked [the previous speaker] for the presentation and the answers, and invited Academician Urmas Varblane to the Riigikogu podium to deliver his presentation.
Professor Urmas Varblane
AI Summary
Urmas Varblane said that Estonia’s debt burden is growing and we must follow Sweden’s example: achieve long-term consensus, maintain the budget over the economic cycle, and reduce refinancing risks, because economic growth alone cannot cover the debt.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar apologized and asked whether Professor Varblane would like additional time.
Professor Urmas Varblane
AI Summary
Professor Urmas Varblane says he doesn't want to continue and is stopping immediately, because the details are written down here.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar simply states that he has understood.
Professor Urmas Varblane
AI Summary
To summarize, we need to do everything simultaneously: cut spending, tackle the tax burden, and invest in the economy. If forced to choose between investing in road construction or putting money into social welfare, I would prefer to invest in road construction, review the whole issue of benefits, and just hold firm for this year or two.
Esimees Lauri Hussar
AI Summary
The Chairman thanks the rapporteur and announces that there are several questions, with Jaak Aab being first up.
AI Summary
Jaak Aab emphasizes that there is no single magic wand, and decisions must be made immediately with a long-term view in mind. He then poses the question of whether the state could have done anything in 2022 to maintain the competitiveness of businesses and the economy.
Professor Urmas Varblane
AI Summary
Professor Urmas Varblane argues that, in the context of the 2022 budget, the money should have been invested in the economy (e.g., road construction and insulating buildings) rather than directed toward consumption, because investments would pay off quickly. He further adds that Estonia’s energy costs have not been this high, and prices have dropped.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar invites Igor Taro to the stage.
Igor Taro
AI Summary
Igor Taro apologizes and explains that the idea of imposing extra taxes on banks was not on the table at the Supervisory Board of the Bank of Estonia, and he asks whether Lithuania could be a positive example for us in that regard.
Professor Urmas Varblane
AI Summary
Professor Urmas Varblane noted that the discussion surrounding the bank tax should have focused on solidarity and utilizing banks' extra income to lower interest rates for small and medium-sized enterprises via loans, rather than simply collecting a one-off tax, which would be much more sensible for the economy.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar invites Kristo Enn Vaga to speak.
Kristo Enn Vaga
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Kristo Enn Vaga stated that, in addition to cuts and tax hikes, the economy must be stimulated. He envisions a one-time national defense investment of about 1.5 billion euros, financed by issuing government bonds on the Tallinn Stock Exchange, with the majority of it directed toward the defense industry—which would generate revenue and stimulate the economy. He then asked how such an extraordinary investment could be implemented most effectively.
Professor Urmas Varblane
AI Summary
Professor Urmas Varblane suggests involving Estonian citizens and businesses in holding a portion of the country's state debt, arguing that this would provide a stabilizing effect and ensure the income remains in Estonia. However, the idea must first be thoroughly debated and ultimately implemented.
Esimees Lauri Hussar
AI Summary
Chairman Hussar makes a brief request to Urmas Reinsalu.
Urmas Reinsalu
Profiling Isamaa fraktsioonAI Summary
Urmas Reinsalu is seeking advice from a professor for the Riigikogu concerning the reform of the supplementary income tax-free minimum, which is set to take effect in 2025. The reform's estimated cost is approximately 1.2% of GDP. He also addresses the government's plan to cover the resulting revenue shortfall through refinancing and to delay the implementation of the bill until 2028.
Professor Urmas Varblane
AI Summary
Varblane suggests that, given the complex budget situation, the party should adopt a position of solidarity and purposefully direct funds toward increasing the salaries of school teachers and rescuers, as well as boosting defense funding—which, in his view, would constitute focused spending.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar called Mait Klaassen.
Mait Klaassen
Profiling Eesti Reformierakonna fraktsioonAI Summary
Citing the Swedish experience, Mait Klaassen asked what the prognosis would be if nothing changed, when a catastrophe might occur in Estonia, and whether the Estonian government was making decisions in the right direction.
Professor Urmas Varblane
AI Summary
Varblane emphasizes that there is no need to spread panic about the catastrophe, but falling ratings and higher interest rates could make securing financing difficult. This is why we need social solidarity, where everyone contributes a little, with the goal of ensuring a better future.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar asks Irja Lutsar to speak.
Irja Lutsar
Profiling Eesti 200 fraktsioonAI Summary
Irja Lutsar asks Urmas whether the government should have an independent expert council that would provide advice and help communicate decisions to the public, something like what existed during the coronavirus pandemic, even though things could have been done better back then.
Professor Urmas Varblane
AI Summary
Urmas Varblane stresses that success depends on two things—giving advice and listening to advice—and both must be present, because without them, it won't work. The problem is that the advisors do not stand in subsequent elections, but instead live their own lives and create a rift, which is a matter of consensus, as Thedéen mentioned.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar asks to give the floor to Anti Allas.
Anti Allas
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Anti Allas argues that in addition to conventional financial debt, society and the state accumulate a socio-economic debt, which converts into monetary debt over the years. He then asks in which sectors this debt manifests and where the state might incur losses in the future due to a reduced tax burden.
Professor Urmas Varblane
AI Summary
Varblane points out that Estonia's tax burden is low compared to Sweden's and suggests it could rise slightly, viewing this as a matter of timing. He also stresses the need to define what constitutes a good year—specifically, a year with a budget surplus—and to adhere to responsible budgeting practices, noting that the capacity for this has been missing over the last decade, with the deficit persisting since 2016.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar calls Margit Sutrop.
Margit Sutrop
Profiling Eesti Reformierakonna fraktsioonAI Summary
Margit Sutrop raises the question of how cuts, tax increases, and investments are all suitable for balancing the budget, what useful contribution research and development provides when comparing Sweden and Estonia, and what the private sector could do.
Professor Urmas Varblane
AI Summary
Varblane emphasized that in order to improve the low level of private sector research and development (R&D), public R&D funding must be utilized as much as possible. This includes, for example, funding companies' development ideas through the MKM applied research program and involving third-party partners to stimulate private sector investment and cooperation, thereby achieving a share of GDP similar to the figures seen in Sweden and Finland.
Esimees Lauri Hussar
AI Summary
The address conveyed deep gratitude, announced that exactly one question and corresponding answer would be taken, and requested that Kalev Stoicescu come forward.
Kalev Stoicescu
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Kalev Stoicescu thanked the speaker, noting that two very painful economic decisions had been made over the last five years (2019 and 2022). He stressed that balancing the budget requires a combination of cuts, tax increases, and investments, and he asked what the current government coalition and the Riigikogu are still doing insufficiently in this regard.
Esimees Lauri Hussar
AI Summary
He says that now is your time and you must act.
Kalev Stoicescu
Profiling Fraktsiooni mittekuuluvad Riigikogu liikmedAI Summary
Kalev Stoicescu's speech addresses cuts, tax increases, and investments, and asks what else should be done.
Professor Urmas Varblane
AI Summary
Urmas Varblane emphasizes that the crisis must be addressed with spending cuts and by avoiding major tax increases, suggesting that domestic society should also be involved in financing the crisis, alongside the use of indexation-related measures. However, he does not believe in the creation of a war tax.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar declared the negotiations open, gave the floor to the representatives of the factions, and Urmas Reinsalu, the representative of the Isamaa faction, requested three minutes of additional time.
Urmas Reinsalu
Profiling Isamaa fraktsioonAI Summary
Urmas Reinsalu called for an honest dialogue, a genuine long-term public finance plan, and the swift implementation of decisions, urging an end to the postponement of decisions and the temporary or permanent suspension of the tax hump, as well as the drafting of a realistic cost-saving plan, in order to restore trust and the competitiveness of the Estonian economy.
Esimees Lauri Hussar
AI Summary
The Speaker invites Igor Taro to the Riigikogu rostrum to speak on behalf of the Eesti 200 faction, and Mr. Taro requests an additional three minutes.
Igor Taro
AI Summary
He thanked the Finance Committee and its chairman, as well as Vice-Chairmen Ülo Kaasik and Gunnar Okk, and Professor Urmas Varblane for their substantive and eye-opening presentations, and stated that based on the discussion, a consensus has emerged that Estonia needs ...
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar asked his colleagues to hold their discussion outside the chamber so that they could listen to the speaker, and subsequently asked the presenter to continue.
Igor Taro
AI Summary
Igor Taro stressed that Estonia needs a long-term plan for the economy and public finances that would reduce the debt burden and channel investments into research and development, infrastructure, and IT infrastructure, in order to raise the standard of living and achieve double growth for the Estonian economy by 2035.
Esimees Lauri Hussar
AI Summary
The Chairman thanks [the previous speaker] and, on behalf of the Estonian Centre Party Faction, requests that Andrei Korobeinik be given the floor at the Riigikogu rostrum.
Andrei Korobeinik
Profiling Eesti Keskerakonna fraktsioonAI Summary
In his presentation, Andrei Korobeinik notes the Reform Party's ability to recognize what is going wrong, describes the coalition's five-phase process—denial, assigning blame, bargaining, depression, and acceptance—and emphasizes that the current national economic policy is unsustainable, requiring long-term accountability and decisive action.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar requested three minutes of additional time.
Andrei Korobeinik
Profiling Eesti Keskerakonna fraktsioonAI Summary
Korobeinik emphasizes that reasonable decisions mean bringing money from where it actually is (e.g., banks' excess profits and progressive income tax), rather than cutting from the poor or waiting for economic growth. He warns that if the coalition fails to make unpopular but reasonable decisions within the next year, Estonia will remain at the bottom of the European Union's economic rankings. However, he notes that the Reform Party has grasped the essence of the problem and solutions will arrive soon.
Esimees Lauri Hussar
AI Summary
The Chairman thanks the assembly and rules that the response speeches will be taken at the end, and invites Anti Poolamets to the Riigikogu rostrum to speak on behalf of the EKRE faction.
Anti Poolamets
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Anti Poolamets is taking extra time.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar requests an extension of three minutes.
Anti Poolamets
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
Anti Poolamets accuses Kaja Kallas of accelerating the green transition and central planning, claiming that this will lead to the deindustrialization of the Estonian economy and exports. He calls on the country to focus on defense and industrial development, rather than tax hikes and ideological central planning.
Esimees Lauri Hussar
AI Summary
This is a short message that calls for action, telling you that now is your time.
Anti Poolamets
Profiling Eesti Konservatiivse Rahvaerakonna fraktsioonAI Summary
He spoke about the importance of the national defense industry, which should become our Nokia for the next decade, bringing jobs and ensuring a sense of security.
Esimees Lauri Hussar
AI Summary
Maris Lauri is representing the Reform Party faction and is coming to the Riigikogu rostrum to deliver a speech.
Maris Lauri
Profiling Eesti Reformierakonna fraktsioonAI Summary
Maris Lauri emphasized that Estonia must balance the nation's revenues and expenditures, reduce the deficit, and prioritize security, pensions, education, science, culture, and entrepreneurship, in order to avoid a persistent debt burden and ensure future generations do not face a harder life.
Esimees Lauri Hussar
AI Summary
The Chairman thanked the previous speaker and invited Jaak Aab, who represents the Social Democratic Party faction, to the podium.
AI Summary
Jaak Aab notes that the difficulties experienced between 2016 and 2019 due to the depletion of Health Insurance Fund resources showed that difficult choices had to be made to maintain services and welfare. Therefore, it is necessary to improve the efficiency of public administration, reduce duplication, and increase the cross-usage of data—all in order to prevent a deficit and the deterioration of the credit rating.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar requests three minutes of extra time.
AI Summary
Jaak Aab stressed that during times of crisis, it is necessary to increase state revenues, maintain investments, and improve the competitiveness of the economy, both in the short and long term. This involves tax policies like taxing the wealthy or implementing a progressive income tax, alongside investments in IT and infrastructure. He argued that this is the only way to revitalize the economy and get businesses investing.
Esimees Lauri Hussar
AI Summary
The Chairman thanks everyone and notes that Igor Taro has been mentioned in several speeches, and asks him to present a response statement.
Igor Taro
AI Summary
Igor Taro emphasizes that Eesti 200 recognizes the need for a long-term plan, and in fact, the government is already making decisions regarding state finances, debt reduction, cuts, and zero-based budgeting. The expansion of renewable energy capacity and the creation of incentives have been voted through. The draft bill concerning nuclear energy, which includes a long-term and 100-year perspective, is currently being processed in the Riigikogu, alongside long-term investments made in education and construction—and compared to 2019, there is now a clear long-term vision.
Esimees Lauri Hussar
AI Summary
Chairman Lauri Hussar concluded the debate, announcing that today's discussion on the important national issue had ended and the Riigikogu had not adopted a resolution. The work week is over, and the Riigikogu plenary session will convene next Monday.