No decisions in emergency government session

RIGA- After many hours of negotiation in the emergency session of government, the meeting ended with no results. The ruling coalition has said that they will reconvene and come to an agreement on Oct. 3.

Prime Minister Valdis Dombrovskis told the press that a coalition meeting will be convened before the government emergency session on Oct. 3. The items to be discussed and agreed upon regard:  changes in tax rates, assigning ministers a political mandate for further work on drawing up next year's budget plan.

Dombrovskis said that along the foreseeable changes in tax policy, the government will analyze the potential introduction of property tax on real estate, taking into consideration suggestions from the Finance Ministry, as well as the alternative solution from the Ministry of Economy.

The government will also discuss the possibility of changing the means for calculating residents' income tax, and introduce minor amendments to the excise tax law, raising the tax for wine.

Dombrovskis stated that on Oct. 3, the government should finalize decisions on the draft 2010 national budget, so that the Finance Ministry could start preparing the budget.

"We will stay on Saturday as long as it takes to make final decisions," said Dombrovskis.