The new minister of Finance talks to the press: Let’s hope we can reduce CAS

Social contributions (CAS) will be cut back for the employer from July 2014 if it is possible, but if the fiscal environment won’t allow for it, the measure will be pushed back to 2015, according to the new Finance minister, Ioana Petrescu.

“I’m a big supporter of cutting back CAS, we’ve already discussed it with specialists and we’re attempting to find methods. I hope we can manage it this year, that is what I’m fighting for, if not, maybe at the start of next year and we’ll put it directly in the Fiscal Code to come in effect on January 1, but my hope is that we’ll achieve it in July”, according to Ioana Petrescu.

Cutting back CAS by 5 percent for the employer is one the measures included in the new Governing Program.

Petrescu added that she needs to talk to the minister of Labour to establish if there are enough budgetary resources to increse pensions in 2015. The Prime-Minister intervened by stating that they will “definitely” e increased.

“If madam Plumb wants to increase pensions, we will need to have a discussion to see how we can achieve that. We need to discuss if there is enough budgetary space to accomplish it, but I support madam Plumb and the social measures she proposes, but like I said: if it is possible…”, the new Finance Minister said for Antena 3.

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Victor Ponta, present in the studio at the time, intervened.

“Yes, we are indexing the pensions, just like we did in 2014, by 3.75 percent. We have mentioned in our fiscal-budgetary strategy that pensions need to keep up with the inflation rate and average salary increases. So we have planned it legally. The pensions will definitely increase”, Ponta said.